Over the past year, experts have debated whether we're on track for a recession -- and the verdict is that it's looking more likely by the day.

Analysts at JPMorgan Chase believe there's a greater than 50% chance we'll face a recession at some point in 2023, and officials at the Federal Open Market Committee are now expecting a "mild recession" by the end of the year.

But there's at least one person still hopeful that the U.S. will be able to avoid a recession: Federal Reserve Chair Jerome Powell. What are the chances that we'll really be able to skirt an economic downturn, though? It depends on a few factors.

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Source Fool.com