Wall Street’s Dwindling Bear Camp Hangs Onto Its Recession Calls

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A small cadre of Wall Street economists who’ve been surprised by the economy’s resilience in 2023 are doubling down on expecting pain for American households and businesses in the new year.

Forecasters at Citigroup Inc., Deutsche Bank AG and Wells Fargo Securities LLC are among those reiterating predictions for a recession, even as the Federal Reserve and most on Wall Street are looking for slower but still-positive growth in 2024.