Massive growth coming
Mena, 3/24/24; Bryan, economy writer for CNN Business, covering the Federal Reserve and macroeconomic data; CNN; “Here’s why the Fed doesn’t see a US recession in coming years”; https://www.cnn.com/2024/03/24/economy/stocks-week-ahead-fed-recession-coming-years/index.html
America’s central bank doesn’t see any signs of a recession on the horizon. Not this year nor the year after. The Federal Reserve’s policymaking committee of 19 officials released a new set of economic projections last week, showing that they now expect economic growth in 2024, 2025 and 2026 to be even stronger than they previously thought. That optimism seems to be the consensus among analysts, including Goldman Sachs’ chief economist: The ruthless economic pains of a recession, such as mass layoffs and tepid consumer spending, probably won’t happen anytime soon. “The economy is strong, the labor market is strong and inflation has come way down,” Fed Chair Jerome Powell said Wednesday. Corporate earnings have been robust, the stock market continues to break record after record and America might be in the thick of a productivity boom that could boost growth without stoking inflation. And even though interest rates are at their highest levels in two decades, the economy continues to display remarkable resilience. Economists say that strength could persist through the coming years.