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Scary Report on the US Economy

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Scary Report on the US Economy
People walk through a mall in Manhattan, New York, on April 4, 2022. A recent report from the Commerce Department shows a 1.4 percent drop in the U.S. GDP for the first quarter of the year. Spencer Platt/Getty Images
Milton Ezrati
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Commentary

A frightening economic report has come out of the Commerce Department: U.S. real gross domestic product (GDP) fell at a 1.4 percent annual rate during the first quarter of the year. Suddenly the prospect of recession has become very real.

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Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
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