Over time, I've come to find these types of announcements strange. We've just had Fitch downgrade the debt and the market threw a fit. But now, seemingly 48 hours later, we're past that? It just doesn't square up in my mind.
The downgrade is related to US debt not the economy as a whole. Parts of the economy can have trouble without having a recession.
Like (for example) the commercial real estate market.
The chances of a resonance cascade are exceedingly improbable.
These clowns constantly defend whoever gives them more money and solidifies more their monopoly.
Biden really really needs some more transitory inflation-like declarations right now.