The Bureau of Labor Statistics released new data Thursday showing the inflation rate is up from August, hitting 8.2% year over year.
This comes after Jamie Dimon, the CEO of JP Morgan Chase, announced earlier this week that the U.S. could tip into recession within the next six to nine months.
He and some of our country’s top financial institutions share the same opinion.
“Next year, we’re expected to have a pretty strong recession,” Kathy Stevens, who lives in West Palm Beach, said.
Kathy Stevens expresses the fears she has about a possible recession occurring soon in the U.S.
Consumers, like Stevens, are wondering what that will mean for their finances.
“I’m afraid to look at my Charles Schwab account because I don’t know what’s going on there,” Stevens said.
Carl Gould, with the financial firm 7 Stage Advisors, told WPTV that before the U.S. tips into recession, the Consumer Price Index has to come way down.
“A technical recession is when…