First Trust Advisors published a new, and optimistic report on the predicted recession:
Monetary policy is not tight. In fact, the Fed is holding interest rates below inflation. Tax rates are still relatively low and have not been hiked, yet. And
productivity is still growing strongly. When these three things have been true, the US has never fallen into recession. When these three things are true, a financial
market collapse is highly unlikely.
So far, the data have corroborated this historical and fundamental view. Real GDP growth remained positive in the first quarter of 2008.