Risk of Domestic Recession in 2023 Rises

Glenn Neasham, CEO and Founder of Neasham Retirement Planners addresses the potential economic outlook in the U.S.

PHOENIX, June 28, 2023 /PRNewswire/ -- As financial markets have fluctuated drastically in recent history, one topic that comes to mind is: recession. The definition of "recession" varies among analysts, but simply put, a recession is a sustained period of economic decline with a continued drop in GDP that leads to events such as a rise in unemployment. No matter who you ask, recession is not a positive word, and even the mention of the word can scare both retail and institutional investors.

Since 1930, the United States economy has seen a total of 14 separate recessions. The most recent recession was back in 2020 at the beginning of the pandemic. Since then, the US has seen anything but a steady move upwards or downwards in the markets. So that begs the question – is the country on the precipice of a further downturn in the marketplace? What can the public expect to see in the US economy if things get worse? Glenn Neasham, CEO and Founder of Neasham Retirement Planners, provides his thoughts on the topic:

"We've seen the market bounce up and down since the beginning of the pandemic, and with the current environment that we are in, I don't expect that to change. Looking at the larger picture of the US economy, we see crops being left unsold/unattended to by farmers creating an abundance of wheat that's just going to go to waste, the worst since 1914 which makes me wonder if this is potentially a repeat of the market collapse at the beginning of the Great Depression. What I can say about the current marketplace is that there is a lot of uncertainty out there and that can be quite concerning for what's to come. It's an important time to take a step back from the day-to-day and look at how the marketplace is impacting you personally, and how this could impact your situation during retirement, especially if you are already retired or close to retiring."

Media Contact:
Glenn Neasham
[email protected]
(910) 916-5230

SOURCE Neasham Retirement Planners