THE MOST ANTICIPATED (IN A YEAR'S TIME) RECESSION

The 'tourist takes a look at the chart that everyone is talking about

Recently a chart titled “The most anticipated recession ever” has made the rounds. It’s from Apollo’s Chief Economist Torsten Slok, and to say it captured my attention would be an understatement.

At first blush, it made little sense.

The chart shows the “probability of recession over the coming 12 months in the Fed’s Survey of Professional Forecasters.” I…