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economics1 year ago•2 min saved

2024 Economic Growth Outlook: Reasons for Optimism

The National Association for Business Economics (NABE) survey predicts stronger growth, lower unemployment, and lower inflation for the U.S. economy in 2024, with a projected 2.2% rise in gross domestic product. The improved forecast reflects upward revisions to key sectors of the economy, despite the Federal Reserve's aggressive interest rate hikes. The labor market continues to show strength, with high job openings and a hovering unemployment rate, and experts expect the Fed to commence rate cuts in the second quarter of 2024.

via Fox Business|

#economic-growth #economics #federal-reserve

economics1 year ago•2 min saved

"Economists Warn of Risks as Fed's Harsh Policy Sparks Calls for Rate Cut"

The National Association of Business Economics (NABE) Policy Survey reveals increasing concerns among economists about the divide between fiscal and monetary policy in the U.S., with 57% believing current fiscal policy is "too stimulative." The national debt has surpassed $34 trillion, and the Congressional Budget Office predicts it will soon exceed the size of the U.S. economy. While the majority of NABE economists feel that monetary policy is "about right," there is a rising concern about it being "too restrictive." Geopolitical risks, such as the Middle East conflict, a stagnant Chinese economy, and U.S. election instability, are also causing worry.

via Fox Business|

#economics #federal-reserve #fiscal-policy

economy2 years ago•2 min saved

"Experts Predict 50% Chance of Recession in 2024 as Economy Slows: NABE"

Economists from the National Association of Business Economics (NABE) predict a sharp slowdown in the US economy in 2024, with a projected growth rate of 1% between the fourth quarter of 2023 and the fourth quarter of 2024. The US GDP is expected to slow to 1.2% in the fourth quarter of this year, and manufacturing has contracted for the 13th consecutive month. Despite the slowdown, fewer economists see a recession on the horizon, with three in four assigning a probability of 50% or less. Inflation is expected to continue moderating, but it is unlikely to reach the Federal Reserve's 2% target before the end of 2024.

via Fox Business|

#economy #gdp-growth #inflation

economy2 years ago•2 min saved

Economic Challenges Ease as Businesses Regain Confidence: NABE Report

The National Association of Business Economists (NABE) warns of a more challenging business environment as the US economy slows, with slowing sales and declining profit margins reported in their October 2023 Business Conditions Survey. Rising interest rates are seen as a major headwind, impacting affordability and potentially leading to price reductions. While a recession is not forecasted, NABE participants express caution, with 79% believing there is a 50% or less probability of a downturn.

via Fox Business|

#economy #interest-rates #nabe

economy2 years ago•2 min saved

NABE survey predicts prolonged high inflation through 2024.

A new survey by the National Association for Business Economics (NABE) found that 98% of economists surveyed expect inflation to remain above the Federal Reserve's 2% target through 2023 and 2024. The survey also found that the Fed's efforts to raise interest rates are viewed as both the biggest potential downside and upside risks to the economy. The median forecast sees inflation gradually easing but remaining above the target level this year and next, with interest rate cuts expected to start in 2024.

via Fox Business|

#economy #federal-reserve #forecast