Top money mistakes to avoid when preparing for a recession
Keeping trust in the economy important
The US economy is the strongest among all nations, and even though phenomenon like unemployment or recession could be on the rise at times, belief in the economy is something that is absolutely necessary for Americans at this point.
Even though there is a lot of chatter that there is an impending US economy on the cards, things could be a lot different when it actually arrives, as there are multiple market forces that could help US markets, including steps like Fed rate cuts, so as to nullify the drastic effects of any recession.
Also Read: Elon Musk deletes X post regarding assassination attempt of Donald Trump. Check details here
Short-term investment should be a big NO
In circumstances like an US recession, one should be banking on long term plans, and due to the economy being in uncertainty in such conditions, short-term investment should be avoided at all costs, as it may bring in adverse outcomes.
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