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Applicants line up at a job fair at the Ocean Casino Resort in Atlantic City N.J., on April 11, 2022.

Associated Press

  • The Federal Reserve said last week that it no longer expects a recession in the US.
  • But unemployment will  spike above 4% over the next year, according to Vanguard's top economist Joe Davis.
  • "By that metric, it actually is a recession – because you have very modest job losses," he said.

Americans will start losing their jobs soon – and that will likely stop the Federal Reserve from achieving its dream no-recession scenario, according to Vanguard's top economist Joe Davis.

Tags
economy, Vanguard, Recession, Inflation, Unemployment, Federal Reserve, US Economy and Markets, US economic outlook, Job Market, Labor Market, job losses
Source
Americans are about to start losing their jobs - and that will scupper the Fed'…