WASHINGTON — The warnings have been sounded for more than a year: A recession is going to hit the United States. If not this quarter, then by next quarter. Or the quarter after that. Or maybe next year.
File - Federal Reserve Chairman Jerome Powell is shown on a monitor at the New York Stock Exchange in New York, Wednesday, May 3, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Seth Wenig, File)
A hiring sign is displayed at a retail store in Vernon Hills, Ill., Monday, June 12, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Nam Y. Huh)
Customers shop at a retail store in Vernon Hills, Ill., Monday, June 12, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Nam Y. Huh)
File - Federal Reserve Chairman Jerome Powell is shown on a monitor at the New York Stock Exchange in New York, Wednesday, May 3, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Seth Wenig, File)
A hiring sign is displayed at a retail store in Vernon Hills, Ill., Monday, June 12, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Nam Y. Huh)
Customers shop at a retail store in Vernon Hills, Ill., Monday, June 12, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Nam Y. Huh)
