US economy to slide into recession due to the Fed's massive rate hikes – Commerzbank

FXStreet Insights Team FXStreet

In the fourth quarter of 2022, the US economy grew by 2.9% after 3.2% in the third quarter. Nevertheless, economists at Commerzbank continue to expect a recession this year.

Last decent growth rate for a while?

“The US economy grew strongly by 2.9% in the final quarter of 2022. However, this is likely to be the last strong quarter for a while, especially as the details are already not quite so encouraging.”

“We still expect the economy to slide into recession due to the Fed's massive rate hikes.”

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