The short answer is “No”. The long answer is “Of course, someday, but not in the immediate future” because:
1. The labor market is strong at 4.2% Unemployment – still historically low.
A resilient labor market means consumers are still earning, spending, and supporting economic growth.
2. GDP although slowing is still positive
While the pace isn’t explosive, it’s solid—and far from contraction territory.
3. Consumer Sentiment is rebounding
As inflation eases and the labor market stays strong, people are feeling more optimistic about their financial outlook—leading to increased spending and economic momentum.