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.