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Wells Fargo’s Chief Economist Foresees Economic Slowdown Amid Recession Risks
Wells Fargo’s Chief Economist Foresees Economic Slowdown Amid Recession Risks
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Wells Fargo’s chief economist Jay Bryson painted a cautious picture of the U.S. economy, suggesting it teeters on the edge of recession without yet confirming a full downturn. Speaking on CNBC, Bryson noted that while current data doesn’t definitively signal a recession, weakening indicators and external shocks—such as trade policy shifts—could accelerate economic challenges.
Projections for 2025 point to sluggish growth, with potential recovery delayed until 2026. Bryson emphasized the Federal Reserve’s pivotal role, forecasting interest rates could plummet from 425-450 basis points to around 100 within a year. "Unemployment spikes triggered by tariffs may force the Fed’s hand," he warned, hinting at possible policy reversals.
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