The US economy is showing signs of potential weakness, with several indicators pointing towards a possible recession. Here's a summary of the current state of the US economy:
Despite these concerns, the stock market has remained resilient, with the S&P 500 up double digits. However, bank credit growth is near 0%, and credit card debt is soaring. The Federal Reserve has raised interest rates multiple times in an attempt to control inflation, which could further impact the economy. While there are signs of economic slowdown, the overall consensus is that the Fed will have to cut rates in the coming years as inflation comes down. However, the economy is not slowing down as much as expected, and the unemployment rate remains relatively low. In conclusion, while there are risks of a recession, the US economy has shown remarkable resilience over the past couple of years. It remains to be seen whether the economy will achieve a soft landing or if a recession is on the horizon. However, economist predict that there is a 50-70% we are heading into a economic recession. The indicators above support this. Des W Woodruff
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Des Woodruff (aka d-seven)
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