Since late last year, a soft landing has been the increasingly popular prediction for the economy. Even the Federal Reserve has been clear.
But not everyone agrees. Particularly among some of the biggest banks in the world, where the thought is that a recession is more than likely. JPMorgan Chase CEO Jamie Dimon in March said he thought the odds of a recession were 65%. And now, Citi Chief U.S. economist Andrew Hollenhorst has come out to say he sees a hard landing coming up, with a prediction that the Fed would have to make four rate cuts, according to Fortune.
Belief in the likelihood of a soft landing — in which the economy slows but without falling into recession and employment stays strong — has never been uniform. In its last poll of its members, the National Association of Business Economics said that 25% still thought a recession was possible.
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