The U.S. Economy: Navigating Towards a Soft Landing

Economists are now predicting a "soft landing" for the U.S. economy, a term used to describe a period of economic stability with moderate growth and low inflation. This is a significant shift from earlier predictions of a recession due to interest rate hikes and signs of reduced spending. The job market is expected to remain relatively stable, with a slight increase in the unemployment rate. Inflation is projected to continue cooling, which could improve consumers' standard of living. However, the possibility of a recession still exists, and some economists are predicting a mild recession in the second half of 2024.