Although the growth in the economic conditions of the US has lasted for the longest period of time now when compared with history, the people of the country are not yet able to accept the upcoming recession.
According to the predictions of the economists, another recession is to come up no sooner than later by the year 2021. Also, the investors and analysts of the growing companies have started discussions on the matter. In the early weeks of March, the stock market sent signals indicating an economic recession in the upcoming times.
The people are scared of the downfall in the economy that is about to come up because last time a situation like this occurred, the employment rate went down to 10% when the common people lost their jobs and eventually their home too.
A research was conducted in the year 2018 that said the millennial will have a stronger hold on the stance of their financial conditions. Though some 42 percent of the industrialists are optimistic about the survey 54 percent still have their own apprehensions.
A 23-year-old software engineer from Utah said that they are too afraid of buying a house before the upcoming economic degradation as the value might later collapse; they are opting for methods of renting.
The ones who graduated from college during the 2008 economic downfall state their insecurities about how another recession in the economy of the United States is going to affect their career.
Stevenson explained in an interview earlier that an economic recession cannot just happen from out of nowhere there must be a factor that leads on to such conditions.
The talks of economic conditions are taking place among the countrymen in situations more often than not, while the Chairperson of Federal Reserve, Jerome Powell said that he is quite confident about not experiencing a recession in the present year, but is expressing his concerns about the slowing down of the global market in places like China and countries of the European continent.
The chief of the Presidential form of government in the US, Donald Trump can be a threat to the economic conditions on the worldwide platform as he has frictions with the partners that the country is doing business with. Also, another threat can be possessed by the Fed in hiking the price rates and accidentally harming the economic conditions of the country. The incident that took place at the beginning of this year –the government is partially shut down, can affect the economic conditions negatively.