Federal Reserve Projects Strong Economic Growth and No Recession in Coming Years
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#b9b257e9 ver:0.23
Economist David Rosenberg warns that the economy could experience a recession and the stock market could be derailed in 2024. He believes that the fiscal tailwinds that boosted the economy in 2023 will turn into headwinds this year. Rosenberg cautions against dismissing the possibility of a recession just because it hasn't happened yet, drawing a parallel to the mistake made in 2007. The fiscal stimulus from 2023 is expected to become a 'fiscal drag' in 2024, resulting in a 1.2 percentage point reduction in economic growth. This, combined with the lag effects of the Federal Reserve's tightening, could lead to a challenging economy and a potential recession. Additionally, the typical 'election effect' in the stock market, where the re-election year of a first-term President coincides with s...
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