As the calendar rolls into 2024, the US economy continues to baffle experts. The Fed is now into the second year of its battle against inflation which began in the spring of 2022. The FOMC has implemented one of its most powerful anti-inflationary policy regimes in decades. The fed policy rate currently stands at its highest level in over 20 some years. While inflation has responded well to the tightening imposed by the Fed, the current inflation rates remains well above the target of 2.0%.
Surprisingly, the US economy has remained recession free during the entire process. In fact, the GDP 2023(III) growth rate (2nd of 3 estimates) is a rather shockingly high 5.2%. However, monetary policy work with a significantly long, albeit, variable lag, and most experts suspect that the slowdown in economic activity due to almost two years of monetary tightening is sure to kick in soon.
Dr. Ed Seifried will seek answers to the following questions during his Spring 2024 Economic Update:
- What are the most serious threats to your Bank in 2024?
- Are interest rates at or near their cyclical peak?
- Will the Fed’s war against inflation finally be won in 2024?
- Will the much anticipated recession finally emerge in 2024?