Recession Risks Falling, Inflation Moderating in 2024: Top Economists

The U.S. economy could soon declare mission accomplished as the country could be progressing toward the widely anticipated soft landing. According to a new report by a group of top economists, recession risks have diminished, the labor market remains solid, and inflation moderates. Sixteen chief economists from the nation’s largest financial institutions contributed to the forecast issued by the American Bankers Association’s (ABA) Economic Advisory Committee (ECA). They noted that recession odds have tumbled over the last six months, although they remain at around 30 percent amid policy and geopolitical risks. In recent months, many surveys of economists, market analysts, and strategists have highlighted a sharp drop in recession expectations, a complete reversal from just a year ago. The Conference Board entirely abandoned its recession call, while many banks have predicted modest growth prospects....