U.S. Recession Odds Rise to 48.6% According to Moody's as Oil Prices Surge
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowMoody's Analytics has raised the likelihood of a U.S. recession to 48.6% over the next 12 months, while Goldman Sachs estimates this at 30% and Wilmington Trust at 45%. The increase in recession expectations is attributed to geopolitical risks, particularly the ongoing conflict in Iran, and rising oil prices, which have increased by $1.02 per gallon (35%) in the past month according to AAA. In normal conditions, the likelihood of recession is about 20%. The rising recession forecasts place pressure on policymakers amid persistent inflation concerns in the labor market.
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Earlier GS news
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- Gold Prices Rise 2.56% to $4,588 as Oil Declines 6% Amid Negotiation Talks
- Oil Prices Rise: Brent Up 1% to $113.32, WTI Up 2.8% to $101.01 Amid Tensions
- Goldman Sachs Forecasts Two ECB Rate Hikes Amid Rising Inflation Outlook
- Asia-Pacific Markets Decline Over 5% Amid Rising Tensions in Middle East
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