WSJ Survey: U.S. Economists Cut Recession Odds to 25%, Lift Inflation View

U.S. economists lowered their recession odds to 25% while raising inflation forecasts in a Wall Street Journal survey, leaving the Federal Reserve little room to cut interest rates this year. According to BeInCrypto, the July survey of 72 economists (July 2–7) cut recession odds from 33% and lifted the forecast for consumer prices to rise 3.4% through December, with core PCE projected at 3.2%. The survey also sees 2.1% growth this year and December unemployment at 4.3%. CME FedWatch showed a 34.2% chance of a July hike, and the next FOMC meeting is set for July 28–29.