Experts Predict Mild Recession in 2024 Due to High Costs and Slowing Growth

All 7 experts interviewed believe a recession is likely in 2024, with a 70% chance according to some. Sentiment has shifted negatively compared to last year.

High costs of wages, materials, and supplies will make business expensive, leading to layoffs and lower consumer confidence and spending. This could cause GDP to contract.

Inflation has slowed significantly, down to 3% from 9% last year. But it remains above the Fed's 2% target. More rate hikes are expected.

Job growth remains positive but is slowing. Unemployment is starting to tick up as companies reduce workforces.

Consumer and business balance sheets are fairly healthy. If a recession occurs, it may be mild and short-lived.