Recession Risk Rising: Gas Prices Soar
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Gas prices surge due to Iran war, increasing recession risks. Moodys Analytics predicts a 49% chance of U.S. downturn, while Oxford Economics estimates 30%. Sustained oil above $140 could severely impact growth. Consumers bear the brunt with higher pump prices, leading to reduced spending and potential job losses. Financial experts advise building emergency funds, seeking cheap gas deals, and utilizing low-interest credit cards. Recessions are officially declared by a panel of economists, so stay vigilant for early signs like layoffs.
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