Market Extra

Pimco’s Sonali Pier says she isn’t expecting a recession this year

Published: March 10, 2025 at 3:22 p.m. ET

President Donald Trump’s penchant for tariffs has raised recession fears in the stock market, yet companies aren’t talking much about that growing worry. 

During S&P 500 companies’ fourth-quarter earnings calls conducted from Dec. 15 through March 6, only 13 mentioned the word “recession,” the lowest number since the first quarter of 2018, according to a note from FactSet senior earnings analyst John Butters. “This number is well below the 5-year average of 80 and the 10-year average of 60,” he said in the note.

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