Dr. Brandy Hadley, David A. Thompson Distinguished Scholar of Applied Investments, co-wrote an article on The Conversation and was interviewed by The National Desk.
With economic forecasters rewriting their 2024 outlooks following recent moves from the Federal Reserve, The Conversation turned to two financial economists to share their thoughts on the upcoming year.
1. At this time last year, many experts saw a downturn on the horizon. Will that long-predicted recession finally come to pass in 2024?
The good news is, probably not.
The U.S. economy is not in a recession and will likely continue growing. Over the past year, gross domestic product has outpaced expectations, inflation is trending downward and employment remains robust. Real wages have increased, as has consumer spending. Additionally, housing demand is strong and financial markets are at all-time highs. While no one should argue that there will never be another recession, 2024 seems to be an unlikely time for one – unless there’s some unexpected spark like, for example, a new global pandemic.
Read more of the article on The Conversation
The National Desk
(TND) — Our economy looks to avoid a long-predicted recession in 2024 while seeing price increases ease, interest rates cut, and continued strength in the job market, a pair of experts said Tuesday.
“I think in a lot of ways the economy is going to continue to create more optimism than pessimism when we look at the numbers,” said finance professor Brandy Hadley at Appalachian State University.
The gross domestic product – a broad measure of the U.S. economy – grew a robust 4.9% in the third quarter of 2023 compared to a year earlier.
Hadley and fellow finance professor Brian Blank, of Mississippi State University, said they expect “moderated growth” this year between 1.5% and 2.5%.
Read more of the article on TND