Is a Global Recession Really Around the Corner?

The world’s leading economists spent most of 2022 convincing themselves that, if the global economy was not already in a recession, it was about to fall into one. But with the year’s end, the global slump has been postponed to 2023.

Clearly, the reports that the United States was in recession during the first half of the year were premature , especially given how tight the US labor market is.