Wisconsin experts agree the U.S. economy is likely headed for a recession later this year as federal officials continue their efforts to tamp down inflation.

That was the general consensus among panelists during yesterday’s Wisconsin Economic Forecast Luncheon in Madison, hosted by WisPolitics.com, WisBusiness.com and the Wisconsin Bankers Association with the support of other partner organizations.

Todd Mattina, head economist for the State of Wisconsin Investment Board, said he and other economists need to be “cautious” about forecasting recessions given the uncertainty involved. But he noted peak inflation rates — like last year’s rate of around 9 percent — are usually followed by recessionary periods.

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Click here to watch a recording of the April 27 event.