Nomura with a bleak outlook for the US for a long time to come:

  • said US gross domestic product would start to contract in the fourth quarter of this year
  • followed by six more quarters of negative growth

More:

  • US GDP 1.8% in 2022
  • -1% in 2023
  • unemployment rate from its current 3.6% to above 5% by the end of 2023
  • Fed rates to about 3.4% by the end of the year
  • peak of between 3.5% to 3.75% in 2023
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