Remember that looming recession? Not happening, some economists say

As 2023 dawned, many economists and CEOs braced themselves for an anticipated recession. However, as we hit the halfway point of the year, the economic landscape has painted a different picture. Surprisingly strong job growth and steady consumer spending, despite high inflation, have kept the economy resilient, even in the face of attempts by the Federal Reserve to rein in economic activity by raising borrowing costs.

While some economists believe that a recession is still on the horizon, their predictions are shifting away from 2023 and more towards 2024. According to Joe Brusuelas, chief economist at RSM, a significant shock, such as an energy crisis or a debt ceiling showdown, would be needed to trigger a recession. Meanwhile, Simon Hamilton, Managing Director and Portfolio Manager for the Wise Investor Group of Raymond James, assesses the odds of a recession to be 50-50, primarily because of the persistently low unemployment rates. Read the full article here: https://www.cbsnews.com/news/is-there-a-recession-coming-2023/