What is a recession, and should Americans be worried? 

Recessions are notoriously hard to predict – but here's what to know about them

 Megan Henney / FOXBusiness

A growing number of Wall Street banks are forecasting an economic recession in coming years as a result of the Russian war in Ukraine, red-hot inflation and an increasingly hawkish Federal Reserve.

Harvard University professor Kenneth Rogoff, a former chief economist at the International Monetary Fund, weighs in on GDP shrinking by 1.4% on an annualized basis in the first quarter.

A growing number of Wall Street banks are forecasting an economic recession in coming years as a result of the Russian war in Ukraine, red-hot inflation and an increasingly hawkish Federal Reserve.

Goldman Sachs, Deutsche Bank and Bank of America are among the firms predicting an economic downturn within the next two years, which could have serious implications for millions of Americans. Recessions, which simply refers to two consecutive quarters of negative economic growth, are often characterized by high unemployment, low or negative GDP growth, falling income, and slowing retail sales. Read more and see video here: https://www.foxbusiness.com/economy/what-is-a-recession