WASHINGTON–An economist with CUNA is forecasting a recession for the United States within the next two years.
“The current economic expansion is now in its 9th year and if it continues through July it will become the longest expansion in U.S. history,” says Jordan van Rijn in this month’s video. “That begs the question that we often hear: Are we due for a recession?”
van Rijn’s forecast comes at the same time an economist with NAFCU said recent economic data indicate the “only thing keeping the economy afloat is labor,” as CUToday.info reported here.
In addition to his analysis on the likelihood of economic decline in the next year, as part of a newly released video van Rijn also discusses the trends and factors that could potentially influence or precipitate a recession, including:
- Declining consumer confidence
- Rising interest rates
- Record household and corporate debt
The analysis was available as part of the CUNA Economic Update.