Those questions are looming large for Americans after the Federal Reserve yet again raised rates to combat high inflation, and the latest gross domestic product report showed that the economy slowed for the second quarter in a row. But at the same time, the job and housing markets are still going strong, though they’ve cooled a bit.
That’s created a lot of mixed signals. The White House and other government leaders are saying the economy remains healthy. But several economists say there’s a good chance a recession will occur in the coming months — if one hasn’t started already.
Should there be a recession, here’s how it may affect your finances and what steps you can take to protect yourself.
Over the past two years, the pandemic-induced worker shortage — coupled with a structural shortage in which fewer younger workers are Replacing retiring workers — has given employees a lot
