Recession Fears Ease but Inflation and Political Instability Still Top Economic Concerns

• Recession risks fading - only 25% of economists expect a recession in 2023 • Inflation expected to remain above Fed 2% target through 2024 • Potential external shocks pose largest threat - especially conflict with China over Taiwan • Economists increasingly worried about unstable U.S. politics and government finances • Top budget priorities should be promoting growth and reducing deficits