Top Economist Claims US is Already in Recession, Despite Positive Economic Data.
Economist David Rosenberg has stated that a US recession has already arrived, but nobody has noticed it. He cited data showing back-to-back declines in US Gross Domestic Income and the S&P 500 index signalling a recession as evidence. The Federal Reserve's interest rate hikes and turmoil in the banking sector have fuelled concerns that the US will tip into recession. Rosenberg has consistently made pessimistic calls about the US economy this year.