Is the Economy Overdue for a Recession?
Expansions don’t die of old age, economists say. But President Trump still seems likely to face a contraction.
The unemployment rate at 4.7 percent. Employers adding 235,000 workers a month. Consumer confidence at its highest level since 2001. The stock market rallying to new territory. Jobless claims flirting with a 44-year low. Wages finally rising, including for low-income workers. The expansion nearing its 100th month. Things are bound to fall apart soon.
This sentiment has become surprisingly common as the expansion has kept chugging along: President Trump has to face a recession in his first term, right? These things don’t last forever, right? “Trump’s turn,” . “Talk about a poisoned chalice,” Bloomberg. “History shows there’s a 100 percent chance of a recession for.
