Meredith Whitney, the analyst who correctly predicted the 2007 financial crisis, is warning of an impending economic "reckoning" in the United States during the fourth quarter of this year. She attributes this forecast to the fading impact of temporary economic stimuli, such as the boost from the World Cup and remaining fiscal spending.

Whitney suggests that the Federal Reserve will likely maintain its current interest rate policy, keeping rates on hold throughout this period. Her analysis points to a significant economic downturn on the horizon, driven by the exhaustion of these short-term economic supports. The former bank analyst's track record lends considerable weight to her current predictions.

Her outlook contrasts with more optimistic forecasts, emphasizing a challenging economic environment ahead. Whitney’s previous accurate call on the 2007 crisis makes her current warnings particularly noteworthy for investors and policymakers alike. The expected "reckoning" is anticipated to begin in earnest as the year concludes.