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  • North American Outlook

    June 27, 2022 | 08:33

    Resilience or Recession?

    profile photo of Sal Guatieri

    Sal Guatieri

    Senior Economist and Director
    Economics

    Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with over two decades experience as a ma... (Read more)

    profile photo of Sal Guatieri

    Sal Guatieri

    Senior Economist and Director
    Economics

    Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with over two decades experience as a ma... (Read more)

    More
    Key Summary

    North America's economic resilience will be tested by rapidly rising interest rates, high energy costs and stubborn inflation, resulting in the expansion nearly stalling at year-end, despite support from excess household savings and some remaining pent-up demand for in-person services


    The risks to inflation and interest rates remain to the upside, raising recession odds

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