Recession Fears Ease as Rent Rises Slow and Fed Takes Cautious Stance
• Economists surveyed see 40% chance of recession in next year, down from 65% chance seen in early 2023 • Rent increased 1.1% in January, the largest yearly increase since March, indicating landlords raising rents again • Rent still rising slower than overall inflation rate of 3.1% • Federal Reserve officials emphasize need for more data before considering rate cuts • Fed governor says January inflation data underscores view that no rush to cut rates until progress on inflation continues