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This scenario could tip the US into recession. Here's how to prepare. [USA TODAY]
Last walmart inc. earnings: 2/18 06:00 am
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As rising prices at the gas pump hit consumers' wallets, Americans already hunting for cheaper fuel may soon confront a bigger challenge: preparing for a potential recession. Oil price surges resulting from the Iran war drove inflation expectations and recession odds higher in March, according to a Moody's Analytics model. The firm's chief economist Mark Zandi said in a note that even before the war began, the firm's model had raised the probability of the United States entering a recession in the next 12 months to an “uncomfortably high” 49% - essentially a coin flip. Other firms' recession odds aren't quite as high. Oxford Economics places the odds at 30%, but a sustained stretch of oil prices above $140 a barrel could put enough pressure on growth to push the economy into one, according to Matthew Martin, the firm's senior U.S. economist. Brent crude, the global oil benchmark, hit $117 a barrel on March 31. “I don't think anyone, certainly the U.S. economy, wins with a lon
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