How to prepare for a possible recession:
A job seeker meets with a recruiter during the Healthcare Academy career and training fair outside of the Chase Center, on June 3, 2022, in San Francisco.A number of forces are putting pressure on the economy right now and that has Wall Street betting on a recession sometime in the next 12 to 18 months.
But the Fed is walking a tightrope. It wants to slow the economy just enough to bring down inflation, but not so much that it tips the economy into a recession. Economists say the best way to prepare for a recession is not to retrench, but instead build resilience to protect your finances from an economic shock.
That may mean changing your buying habits and spending more on the things you “need” versus the things you “want.”
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