Early Wall Street Bank to Predict a US Recession Scraps Its Call
- Deutsche Bank walks back recession call initially made in 2022
- Inflation is moving toward Fed’s target without labor damage
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Deutsche Bank AG was the among the first Wall Street banks out of the gates to predict a US recession. Nearly two years later, it’s walking back its call.
The economy performed as well as could be in 2023 with inflation moving toward the Federal Reserve’s 2% target while the labor market remained resilient, economists led by Matthew Luzzetti said in a note Monday. And with easier financial conditions, there’s less of a downside risk to growth.