They say government action will only delay it. And they warn that a delay could create a much more severe recession in the future. Other experts consider a recession useful. They say a recession is often necessary to correct an imbalance created by an extremely successful economy. American buyers may help prevent a recession.
Consumer spending makes up about two-thirds of the American economy.
Two recent studies of American buyers suggest that they plan to keep spending. The Conference Board research group says American buyers are not worried about the economy. The group says consumer confidence levels in March rose for the first time in five months. The group had been expecting a decrease. An earlier study by the University of Michigan also found consumer confidence is on the rise.