'People give up on recession just as it arrives': Don't count out an economic downturn just yet
The worrying signs highlighted by Edwards include the Fed Survey of Senior Loan Officers, which shows that lending standards are tightening across all types of loans at banks nationwide, as well as"Many leading indicators are signalling recession, and they are not all of a manufacturing bias," Edwards explained.
According to Edwards, this could have a devastating impact as the lagging nature of higher rates makes its way through the broader economy. To be sure, the Fed's staff economists no longer see a recession. But the potential decline in demand that Edwards predicted should hurt corporate profits, which would likely lead to layoffs and a downturn in the economy.
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