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To say 2023’s economy was a rollercoaster would be an understatement. Interest rates hit recent highs as the Federal Reserve continued full throttle with its campaign to quash inflation. The first part of the year saw three major bank failures and employers laid off hundreds of thousands of workers.
But in recent months, inflation has begun to moderate, and the labor market has slowed, but remains strong. Stocks erased last quarter’s earlier losses. Most economists agree the chances of a recession in 2024 are much lower than they were for 2023 this time last year.
In the latest installment of our quarterly economic newsletter, we’ll break down the final quarter of 2023, where we are now and what 2024 holds in store.
