Wells Fargo’s Chief Economist Predicts Economic Recession – But Don’t Panic Just Yet

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Hold on to your wallets, because Jay Bryson, the chief economist at Wells Fargo, has just waved his economic crystal ball and it’s not looking too rosy for the good ol’ US of A. According to Bryson, the economy is skirting dangerously close to the edge of a recession. In fact, it’s skating like a clumsy penguin on a thin layer of ice – one wrong move and boom, recession! 🐧💥

In an eye-opening interview on CNBC’s Squawk Box (which sounds like a high-stakes game show, but isn’t), Bryson admitted that while he’s not actively *forecasting* a recession, the economy is currently just one bad data point away from a full-on economic faceplant. And let’s face it, we’ve all been one bad email away from an existential crisis. “We don’t have the economy going into recession, but we’re skating pretty close,” he said. But hey, don’t panic! Yet. There’s still time to grab your popcorn and see how this unfolds.

But wait, there’s more! Bryson, ever the optimist, suggests that 2026 might just be the year when things get better. 2025, however, is likely to be a year of economic woes thanks to those pesky Trump-era tariffs. “2026 is going to be a lot better than 2025. 2025 is all about the negative effects of tariffs. 2026? Modest stimulus, monetary ease, and a sprinkle of deregulation,” he said. It’s like a recipe for economic recovery – with just a pinch of chaos thrown in for flavor.

He’s also predicting that next year, the Federal Reserve will cut interest rates down to a more reasonable 100 basis points to try and jump-start the economy. If that doesn’t work, they might just throw in a few extra interest rate cuts to really spice things up. “A year from now, I still think rates are probably going to be about 100 basis points…” he mused, probably while sipping a latte and trying not to look too smug.

And let’s not forget the wild card: unemployment. If the jobless rate starts creeping up later this year (as Bryson seems to think it will, thanks to the tariffs), the Fed will likely pivot faster than a contestant on The Bachelor and start slashing rates like there’s no tomorrow.

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2025-06-06 15:03