"2024 Economic Forecast: Economists Raise Growth Expectations Despite Previous Recession Predictions"

Professional forecasters have raised their expectations for the US economy in 2024, with the economy projected to grow 2.2% after adjusting for inflation, up from previous forecasts. Despite high interest rates aimed at controlling inflation, the job market and household spending have remained resilient, leading to increased optimism. Inflation has been cooling, and most forecasters expect interest rate cuts to begin by mid-June, which could provide a boost to the economy. However, concerns about high rates remain, with 41% of respondents citing it as the most significant risk to the economy.