(Republicaninformer.com)- A majority of Americans believe that Joe Biden’s economy is going to get worse in 2023, according to a new poll reported by Free Beacon. 65% of respondents reportedly believe the country is “headed in the wrong direction,” while 52% said that they believe the country is going to get worse in 2023.
Only 32% see the country positively. The Wall Street Journal poll conducted between December 3 and 7 amongst 1,500 voters, comes as Goldman Sachs announced that it will be laying off thousands of workers as they project a recession.
Respondents who are reportedly Democratic viewed the economy more positively than Republicans and Independents.
“Economic pessimism is strongest among Republicans, with 83% expecting the economy to worsen. Slightly more than half of Independents feel that way, while 22% of Democrats do,” the WSJ reported.
Democratic pollster John Anzalone, who conducted the poll with Republican pollster Tony Fabrizio said that diagnostics have been partisan and if there were a Republican president the trend might be reversed. Fabrizio said that although so many people have negative views about the economy, Democrats are not in trouble.
The Federal Reserve announced that it will be raising interest rates another .5% to continue its effort against inflation.
Researchers at Goldman Sachs are warning that investors are underestimating the risk of a recession, which could increase their exposure to the effects of a recession in 2023, according to The Daily Caller. The researchers estimate that the U.S. faces a 39% chance of a slowdown of growth, with risk assets accounting for 11%.
The more investors reportedly underestimate a recession, the greater they are exposing themselves to risk in the coming year. The risk of a recession, however, remains relatively low, according to the researchers, citing increased stress in the asset market. Goldman Sachs represents a contradictory view compared to other economists and financial executives who are pointing to an impending recession within the next year.