Could We Dodge a Deep Recession in 2024? Here Are The Economic Trends To Watch
Economists are more optimistic going into 2024 than in 2023 when they anticipated a recession. They anticipate slower growth and a possible short and shallow recession. The ratio of job openings to unemployed people is close to pre-pandemic levels, indicating excess demand for labor. Inflation metrics have been improving, with the core PCE price index close to the Federal Reserve's target of 2%. The Fed may cut interest rates in 2024 if inflation remains at target levels.
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00:00 It's Benzinga and here's what's on the block.
00:02 Economists are more optimistic going into 2024 than in 2023 when they anticipated a recession.
00:07 They anticipate slower growth and a possible short and shallow recession. The ratio of job
00:12 openings to unemployed people is close to pre-pandemic levels, indicating excess demand
00:16 for labor. Inflation metrics have been improving with the core PCE price index close to the
00:20 Federal Reserve's target of 2%. The Fed may cut interest rates in 2024 if inflation remains at
00:25 target levels. Despite negative consumer sentiment, consumer spending has remained resilient,
00:30 leading to positive economic activity. For all things money, visit Benzinga.com.