At the start of 2023, analysts saw a 65 percent ch
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Posted On: 12/31/2023 6:53:21 AM
At the start of 2023, analysts saw a 65 percent chance that the year would see a recession, according to a consensus estimate referenced by Goldman Sachs.
Instead, the latest economic data suggest the higher rates are having the desired impact against inflation without the worst side effects. Inflation has come down faster than expected, clocking in at 3.1 percent in November. That’s a far cry from its June 2022 peak of 9.1 percent and within sight of the Fed’s 2 percent goal. (The Fed’s preferred measure of inflation came in even lower, at 2.6 percent in November compared with the year before.)
Instead, the latest economic data suggest the higher rates are having the desired impact against inflation without the worst side effects. Inflation has come down faster than expected, clocking in at 3.1 percent in November. That’s a far cry from its June 2022 peak of 9.1 percent and within sight of the Fed’s 2 percent goal. (The Fed’s preferred measure of inflation came in even lower, at 2.6 percent in November compared with the year before.)
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