US economy to hit wall this year – experts warn..

US economy expands 5.7% in 2021, but Omicron hit looms ...

Analysts are predicting the US economy will slump this year after 2021’s 37-year high growth – as stimulus spending drops, Federal Reserve interest rates are hiked, and Covid variants continue to plague supply chains.
Former Economic Council chief under Donald Trump, Joseph LaVorgna, told CNBC that “it’s not a recession, but it will be if the Fed gets too aggressive”.
Goldman Sachs and Bank of America have trimmed their first-quarter GDP outlooks from 2% and 4% to just 0.5% and 1% respectively, with its full-year view pitched at 3.2% and 3.6%.

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