Central Florida economists give advice on how to prepare for possible recession
Concerns are building that we’re possibly headed toward a recession. WESH 2 spoke with some people in Central Florida on how they are planning and asked some experts for advice. “Some people are ready and some people aren’t. And if you aren’t, you got to get with it because it’s coming,” resident Jacob Hungerford said. Many economists agree with Hungerford that a recession is on its way this year. Inflation has slowed a bit and now prices are not as bad as last year. When it does arrive, it should not be as bad as previous recessions. “The upside here in Central Florida is that this is not going to look anything like the 2020 recession or the 2008/2009 recessions, both of which hit particularly hard here,” said Sean Snaith of UCF’s Institute for Economic Forecasting.
WESH