How the economy upended expectations of a recession in 2023 PBS NewsHour
News Source : PBS
- They may contain errors.Geoff Bennett:2023 was a year in which many experts got a lot of things wrong about the U.S. economy.Many economists believed the Fed's battle to tame inflation with a succession of interest rate hikes would trigger high unemployment and a recession..
- Many economists believed the Fed's battle to tame inflation with interest rate hikes would trigger high unemployment and a recession..
- Thank you.Geoff Bennett:So, there was virtual certainty among economists last year that 2023 would see a recession, and the debate was over how long and how serious it would be..
- They're going to know that a mortgage rate at, whatever, 7.5 percent, is still nowhere near the 2 or 3 percent mortgage they were able to get during the pandemic..
- Like, investors seem to be unanimous right now in thinking that.Or is inflation going to stay with us far longer than anybody expected?Geoff Bennett:So how will we know?.
- A lot of people right now cannot beg for workers to show up.The unemployment is — unemployment rate is before — below 4 percent..
Roben FarzadI dont know, if you go to a man on the street and say, hey, core CPIs increase is falling, anybody is going to be happy about that.Theyre going to know that theyre locked out of [+655 chars]