KEY POINTS
  • The Atlanta Fed's GDPNow gauge sees the second-quarter running at negative 2.1%.
  • Coupled with the first-quarter's decline of 1.6%, that would fit the technical definition of recession.
Federal Reserve Chair Jerome Powell reacts as he testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the "Semiannual Monetary Policy Report to the Congress", on Capitol Hill in Washington, D.C., U.S., June 22, 2022. 

A Federal Reserve tracker of economic growth is pointing to an increased chance that the U.S. economy has entered a recession.

Most Wall Street economists have been pointing to an increased chance of negative growth ahead, but figure it won't come until at least 2023.