The Fed will not stop hiking rates until it sees the unemployment rate spike, the banking system won’t collapse and there won’t be a recession in 2023—but whatever you want to call it will walk like a recession, talk like a recession and even sound like a recession.

“Our baseline is there will be no recession in 2023. It’s not a recession, it’s a slow-cession, growth will be very slow,” said Kevin Fagan, Moody’s top CRE analyst, in a keynote presentation entitled Insights into a Disruptive Marketplace at the GlobeSt. Net Lease Spring 2023 conference, held at the Marriott Marquis in Times Square on Tuesday.

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Jack Rogers

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