U.S. Economy Defies Predictions, Avoids Recession Again With High Spending and Demand
• The US economy defied predictions and avoided a recession in 2023
• Former Dallas Fed president Robert Kaplan believes the US could avoid a recession again in 2024
• Kaplan cites high government spending and demand for services and workers as reasons for continued growth
• The economy grew nearly 5% in Q3 2022, showing resilience
• The Fed signaled openness to rate cuts in 2024, which could support continued expansion