WASHINGTON, February 21 The risk of recession remains in the US due to for the instability of economic indicators, said former commissioner of the Texas Railroad Commission (the oil regulator of the country's largest oil-producing state) Ryan Sitton.
““I still believe that (the risk — ed.) of recession exists,” he answered a question about the possibility of a recession in the United States.
Consumer debt is at its highest level in history, Fed interest rates remain high and the public faces housing affordability challenges, a former official said.
In addition, Sitton expressed confidence that these factors, along with fears of recession, will have an impact on the upcoming elections in the United States.
Earlier in February, the American Accounting Chamber published a forecast according to which the US national debt, while maintaining current rates of income and spending, will grow faster than the country's economy, and by 2050 will reach 200% of national GDP. According to the department, the government of the country faces an unsustainable financial trajectory in the long term, which creates serious problems for the economy, security and social sphere if this problem is not resolved.