As Reagan zogt: recession is when your neighbor loses his job, depression – when you lose it, and recovery – when Jimmy Carter loses his. He was right then, he is right now.
We do have an option of either recession (if rates will be raised high) or inflation (if not), or none if they will be raised “just right”, or both …. The actual result is in part depends on controls that Feds and others apply, so a prediction is based on your understanding of their actions. Larry Summers brings a good analogy: a car that started skidding may fall off left shoulder or right, depending which way the wheel will be turned in panic. Presumably, the more inflation goes up, the more Fed will be trying, so the chances of ending with recession are higher than getting Weimar-type hyperinflation.