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
