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With the threat of a recession worrying Americans, hereswhat to know according to economists.
We have a tight labor market, supported by a structural, demographics-based labor shortage.
He added, Productivity growth remains above pre-pandemic trends.
And public and private investment remains relatively robust.
Global economic conditionsand geopolitical risk will also influence domestic economic growth.
The Economy Is at a Crossroads
The economy is facing an ongoing battle with inflation.
Americans are best reminded that downturns are cyclical and not necessarily severe.
For investors, maintaining a diversified portfolio can help mitigate risk.
Businesses may want to streamline operations and manage cash flow as conservatively as possible.
Firms in vulnerable industries should consider upskilling or expanding their job prospects in case of layoffs, he added.
The U.S. economy has further distanced itself from most other major economies since the pandemic, he said.
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