Posted 10/16/2023, 2:24:46 AM
U.S. Economists Upgrade Growth Outlook, Lower Recession Risk on Jobs, Inflation
- Economists predicting brighter economic outlook, lowering recession odds
- Falling inflation, halt in rate hikes, strong job market driving optimism
- GDP growth forecast upgraded to 2.2% for Q4 2023
- Continued growth expected in 2024 and 2025 despite slight forecast cuts
- Unemployment rate to stay low, above 4%
- Majority believe Fed is done raising rates after hitting peak in July
- Economists confident in soft landing with inflation dropping below 2.5%
- Contrasts with CEO recession warnings and Fed insistence on no recession
- Signals growing consensus among economists that recession will be avoided
