NEW YORK FED RECESSION PROBABILITY INDICATOR
The New York Fed is generally ahead of the curve in predicting matters affecting the US and global economy. The New York Fed Recession Probability Indicator ticked up massively in 2008, then plummeted, but after a few false starts is ticking up again with a 14% call for a recession in 2019. For us, it’s the slope of the curve that matters and the slope is rising, developing higher highs.