Are We Heading into a Recession? This US Economist’s 2023 Economic Outlook isn’t Dire

We’ve been at the precipice of a maybe-recession in recent history.

In a moment of near-déjà vu, business owners and economic leaders gathered last Friday to hear FS Investments Chief US Economist Lara Rhame’s take on the current state of the economy. It mirrored the last time the Chamber of Commerce for Greater Philadelphia gathered in person for its signature Economic Outlook event in 2020: a blustery January morning, a packed auditorium at Philly’s Bellevue Hotel, and the feeling like we might be heading into a recession.

Back in early 2020, Rhame named that we were likely on the precipice of an economic downturn, though she explained why Philadelphia might fare better than other cities. What we weren’t aware of yet, was how the incoming COVID-19 virus would impact, well … everything.