Poll: More than half of Americans believe US is in a recession

June 16, 2022 Najuma Wilkinson US 0

In this photo provided by the New York Stock Exchange, a trio of specialists work at a post on the floor, Monday, June 13, 2022. Fears about a possible recession are pounding markets worldwide on Monday, and Wall Street's S&P 500 tumbled into the maw of what's known as a bear market after sinking more than 20% below its record set early this year. (Courtney Crow/New York Stock Exchange via AP)

In this photo provided by the New York Stock Exchange, a trio of specialists work at a post on the floor, Monday, June 13, 2022. (Courtney Crow/New York Stock Exchange via AP)

OAN NEWSROOM
UPDATED 12:57 PM PT – Thursday, June 16, 2022

New polling showed more than half of Americans believe the US is in a recession. The YouGov and The Economist survey released on Wednesday, found 56 percent of respondents believe America is currently experiencing an economic recession. Twenty-two percent of respondents did not agree with the majority, while another 22 percent were unsure.

“The economy is going to collapse,” veteran investor Michael Novogratz voiced. “We are going to go into a really fast recession, and you can see that in lots of ways.”

Broken down by political affiliation, 70 percent of Republicans say we’re in a recession, while 45 percent of Democrats agree. The Federal Reserve announced on Wednesday, that it will hike interest rates at the fastest pace its seen in nearly 30 years.

Among Americans who currently think we are in a recession, more than half (54%) say it’s worse than the 2008 recession. 13% say it’s better, and the same share says it’s equal to the 08′ recession.https://t.co/SmS21gqI0G pic.twitter.com/VGWn3MCMjc

— YouGov America (@YouGovAmerica) June 15, 2022

The poll came as Americans nationwide grapple with rising inflation, high gas prices and increasing costs for everyday staples.

“There are layoffs in multiple industries and the Fed is stuck,” he said. “With a position of having to hike interest rates until inflation rolls over.”

The polls were conducted from June 11 to 14, with a total of 1,500 respondents participating in the survey.