Economists and market analysts are increasingly concerned about the potential for a recession in the U.S. economy, with many calling for the Federal Reserve to implement significant interest rate cuts. Steve Blitz, chief U.S. economist at TS Lombard, noted that while there is no recession currently, one is becoming more likely by year-end if the Fed does not take action. Experts emphasize the urgency of a rate cut in September, with some, like Peter Schiff, advocating for the opposite approach—raising rates to prevent a market crash. Schiff warns that lower interest rates combined with a recession could exacerbate federal budget deficits and weaken the dollar, ultimately fueling higher inflation. Bank of America has also indicated that investors believe the Fed needs to act decisively to avert a recession.