Three-quarters of ultra-high net worth investors expect a U.S. recession at some point in the next two years, according to J.P. Morgan Private Bank’s Spring Investment Barometer, released this week. Among respondents expecting an economic downturn, 21% believe it will start in 2019 while 50% predict it in 2020, CNBC’s Natasha Turak reports.
While J.P. Morgan has not observed signs pointing to a recession on the horizon and the economy is firing on all cylinders, economists are debating whether the current growth curve can continue past 2019. Turak writes:
Economists like Carl Tannenbaum at the Chicago-based Northern Trust warn that growth will not keep pace with the U.S. budget deficit, which is set to top $1 trillion in the next two years. "Sometime in the next decade we're going to have a recession which is really going to throw us off that trajectory," he told CNBC this week.
75% of the ultra-rich forecast a US recession in the next two years, survey finds from CNBC.
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