(FamilyConservationPAC.com) – Bloomberg’s latest statistical forecast numbers are in – and it does not look good.
Just a week ago, Joe Biden confidently proclaimed a recession was unlikely and that the downturn would be “very slight” if a recession were to hit at all.
That all changed, according to the latest Bloomberg Economics forecast model released this week, claiming with certainty that the U.S. economy will fall into a recession within the next 12 months.
A U.S. recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to President Joe Biden’s economic messaging ahead of the November midterms.https://t.co/sAqRlbsdQo#yggalerts pic.twitter.com/w7i4lYzCgI
— YGG Alerts (@yggalerts) October 18, 2022
The catastrophic projection could not come at a worse time for the Biden administration, just weeks before the midterms elections. The outcome of the midterms will determine which political party will take over Congress.
According to previous Bloomberg statistical model updates generated by economists Anna Wong and Eliza Winger, the likelihood of a recession was at 65 percent.
The model utilizes 13 different macroeconomic variables and financial indicators to assess downturn odds anywhere between one month to two years in the future.
This 100% recession probability delivers a heavy blow to Biden and Democrats seeking re-election in the midterms.
With decades-high inflation, Federal Reserve interest rate hikes, and mounting geopolitical tensions on the rise, the fears of a deep recession are coming true.
A recession is inevitable, and Americans must prepare for potentially dire economic times.
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