by Michael Tilley (mtilley@talkbusiness.net)
Just a few months ago, it was considered a surprise if the U.S. economy did not enter into a recession, even if shallow. The more widely held belief now is similar to that of economist John Shelnutt who says the U.S. economy shows “no sign of faltering.”
Shelnutt, director of economic analysis and tax research at the Arkansas Department of Finance and Administration, told Talk Business & Politics that real U.S. GDP growth will remain resilient even “under the accumulated weight of interest rate hikes by the Federal Reserve.”
Goldman Sachs on July 19 lowered its closely watched recession odds from 25% to 20% but said economic growth may slow in the near term.
