Experts Make Mixed 2023 Economic Forecasts Amid Cooling Inflation and Uncertain Fed Policy
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Bill Martin and Manan Gosalia predicted the failure of regional banks like Silicon Valley Bank due to exposure to struggling tech sector and holdings of long-term securities hurt by rising rates.
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Jan Hatzius, Ellen Zentner, Neil Dutta, and Marko Papic went against consensus by predicting the US would avoid recession in 2023 thanks to cooling inflation allowing the Fed to back off rate hikes.
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Tom Lee and Barry Bannister made accurate bullish calls on the S&P 500 performing well in 2023 based on a resilient economy and less hawkish Fed.
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Anna Wong correctly predicted the Fed would raise rates higher than expected, above 5%, due to stubborn inflation.
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James Egan accurately forecasted the housing market would see stable prices but low activity levels in 2023 thanks to tight inventory offsetting affordability issues.