Wall Street’s Economic Doomsayers See US Recession Around Corner
- Citi, Deutsche Bank and Wells Fargo still expect 2024 downturn
- ‘It barely qualifies as one,’ Deutsche’s Ryan says of forecast
Commuters exit a Wall Street subway station.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
A small cadre of Wall Street economists who’ve been surprised by the economy’s resilience in 2023 are doubling down on expecting pain for American households and businesses in the new year.
Forecasters at Citigroup Inc., Deutsche Bank AG and Wells Fargo Securities LLC are among those reiterating predictions for a recession, even as the Federal Reserve and most on Wall Street are looking for slower but still-positive growth in 2024.