Wall Street companies are increasingly estimating the likelihood of a recession in the U.S. by the end of the year, citing rising risks from Trump's trade policy, reports Yahoo.

However, considering that tariffs are hitting businesses and consumers, economists warn that the economic consequences may manifest sooner than expected, introducing uncertainty into broader economic prospects.

As noted by some Wall Street commentators, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), the official group responsible for declaring recessions, does so only after analyzing several months of economic data. This means that we often do not know we are in a recession until it has started or even ended.

But there are already signals worth paying attention to.