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Deutsche Bank has publicly predicted the US economy will enter a mild recession in 2023 as the Fed Reserve raises rates.

Tuesday’s report from economists David Folkerts-Landau and Peter Hooper stated that by the summer of 2023 the stock market will fall by 20% and unemployment will jump to 5% by 2024.

Even with the ever-growing consumer prices, the Biden administration continues to blame Russia, Ukraine, and the pandemic. The president has yet to admit that a recession is inevitable.

Tony Katz says the White House is convinced American’s will look the other way, or at least that’s their hope.

“Inflation is a tax on the American people…they are infuriated with this idea that they can’t get you to buy into the lie…they are shocked we are paying attention.”

While Deutsche Bank is one of the first major banks to predict a U.S. recession, several financial analysts and politicians have also spoken out.