Amidst growing concerns about a potential recession in the United States, Santander’s Chief Economist Stephen Stanley is confident that the country will be able to avoid a downturn in the near future.

In a recent interview, Stanley stated that while economic growth has slowed down, he does not believe that a recession is imminent. He pointed to several key factors that he believes will help to support the economy and prevent it from sliding into a recession.

One of the main reasons for Stanley’s optimism is the strength of the labor market. Unemployment remains at historically low levels, and wages are continuing to rise. This, combined with strong consumer confidence and spending, suggests that there is still plenty of momentum in the economy.

Stanley also highlighted the positive impact of the Federal Reserve’s decision to cut interest rates. Lower rates should help to stimulate borrowing and spending, which could provide a boost to the economy in the coming months.

Additionally, Stanley pointed to the resilience of the housing market as another reason why a recession is unlikely. While the housing market has cooled off somewhat, it is still relatively healthy, with home prices remaining stable and demand continuing to outstrip supply.

Of course, there are still risks to the economy that could potentially tip it into a recession. The ongoing trade war with China and uncertainty surrounding Brexit are just a few of the factors that could pose a threat to economic growth.

However, Stanley remains confident that the U.S. economy will be able to weather these challenges and continue to grow. He believes that while the economy may slow down in the near term, a recession is not in the cards.

Overall, Stanley’s optimism about the U.S. economy serves as a reassuring voice amidst fears of a potential recession. While there are certainly risks on the horizon, his confidence in the strength of the economy suggests that the U.S. may be able to avoid a downturn in the near future.

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