Recession in 2023? It is being anticipated by most financial experts.
- Barclays Capital Inc.:
- “2023 will go down as one of the worst for the world economy in four decades.
- Ned Davis Research Inc. says odds of a severe global downturn at 65%.
- Fidelity International reckons a hard landing looks unavoidable.
- The Federal Reserve readies an most aggressive tightening campaign in decades.
- Expect an uneven year in trading. Deutsche Bank AG sees the S&P 500 Index rising to 4,500 in the first half, before falling 25% in the third quarter as a downturn bites — only to bounce back to 4,500 by end-2023 as investors front-run a recovery.
- Recommendations:
- Budget & reduce expenses
- Place money where is will not lose principal (TSP G Fund), bank savings, money market.
- Inflation is taking the value of your dollar, however, consider, reduce risk of your cash and cash equivalents.
- Hold on to your home, rental, vacation property, vacant lot. Value will return.
- Time to tighten your belt.
