Oct. 17, 2022, Bloomberg posted a story with this headline: “Forecast for US Recession Within Year Hits 100% in Blow to Biden.”
“A US recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to President Joe Biden’s economic messaging ahead of the November midterms,” wrote Bloomberg. “The latest recession probability models by Bloomberg economists Anna Wong and Eliza Winger forecast a higher recession probability across all timeframes, with the 12-month estimate of a downturn by October 2023 hitting 100%, up from 65% for the comparable period in the previous update.”
Thursday was the two-year anniversary of that story, and guess what didn’t happen?
There’s been no recession.
