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We aren't officially in a recession yet, but we will likely be soon. Many economists say that a recession will happen in 2023. If the economy goes into recession, you can be ready financially if you do a little planning. Start an emergency fund, work on your resume, and look for other ways to make money.
Even though the slowdown in the economy hurts in the short term, many industries can keep going even when the economy is terrible. Many experts worry that an actual recession is about to start. Since inflation is still rising, the Federal Reserve will probably raise interest rates to slow the economy down even more. We could quickly go into an actual recession if the economy slows down enough. A recession can hurt many people, from the job market to the stock market.
Even though the thought of a recession is scary, it's important not to freak out. This is part of how the economy works. Most of us will feel uncomfortable during a recession, but there are ways to prepare. In this article, we'll talk about how to make it through a recession, so you can feel better about your finances even though the economy keeps sending us all mixed signals.
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