Mild recession expected in 2020.
An economist for credit unions said Thursday that credit unions should keep a close watch on their lending standards as the U.S. economy heads for a mild recession in 2020.
Steven Rick, economist for the CUNA Mutual Group in Madison, Wis., said consumers have been borrowing more than they make to satisfy pent-up demand, but they will be forced to start saving more and pay down their debts.
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