(TheRedAlertNews.com) – BREAKING NOW: With the latest economic news just released today, concerns that the United States economy is crashing are growing.
According to data released this morning from the U.S. Bureau of Economic Analysis, gross domestic product (GDP) declined at a 1.4 percent annualized rate over the first quarter of 2022.
The decline comes even though economists predicted a GDP growth rate of about 1 percent for the first quarter and after the economy had grown by 5.5 percent in 2021 and by 6.9 percent in the final quarter of 2021 alone.
As the news broke, so did reports of analysts predicting that the United States of America is on the verge of a major recession.
Deutsche Bank told clients on Tuesday of this week that the United States is all but certain to slide into a recession.
“We will get a major recession,” Deutsche Bank wrote in a report sent to clients headlined, “Why the coming recession will be worse than expected.”
According to that report, the Federal Reserve will keep aggressively raising interest rates to bring down inflation to the Fed’s goal of 2 percent. The Consumer Price Index (CPI) rose 8.5 percent in March compared with the same month last year, the highest increase since the 12-month period ending December 1981.
This is a breaking news report from Red Alert News.