Could Social Security Bail You Out If a Recession Hits in 2023?
Will a recession hit in 2023? That's a question on a lot of people's minds right now.
The Federal Reserve has been raising interest rates for months in an attempt to slow the pace of inflation. But its interest-rate policies could fuel a major pullback in consumer spending as borrowing becomes prohibitively expensive. And that could be enough to spur a recession and a period of rampant unemployment.
As a general rule, it's a good idea to have money set aside in an emergency fund in case you lose your job -- during a recession or otherwise. But since so many financial experts have been sounding warnings about a recession in 2023, it could make sense to beef up your savings in the coming months.
Source Fool.com
