Don’t count on a soft landing for the U.S. — or the global economy
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Recession fears are fading, but the global economy may be coming in for a landing that’s still harder than many anticipate. The risks to global growth are tilted to the downside. The consensus forecast for the global economy remains cautiously optimistic. Recent developments suggest that the risks to global growth are still tilted to the downside. The Chinese economy is grappling with falling property prices and weak demand. European economic growth is expected to remain lackluster. European countries' unwillingness to invest in their own defense could necessitate a painful adjustment. Biden's Inflation Reduction Act (IRA) is essentially a protectionist trade policy. Both Democrats and Republicans in the U.S. seem uninterested in cutting government spending. Despite the widespread belief that the global economy is headed for a soft landing, recent trends offer little cause for optimism.

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https://www.marketwatch.com/story/dont-count-on-a-soft-landing-for-the-u-s-or-the-global-economy-9925aa0f