21 min
Why recession odds for 2023 are fifty-fifty ABA Banking Journal Podcast
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- Management
As the Federal Reserve continues its efforts to drive inflation lower this year and next, the ABA Economic Advisory Committee expects stalling economic growth in 2023, followed by a modest recovery in 2024. On the latest episode of the podcast — sponsored by xChange — EAC Chair Simona Mocuta shares the committee’s consensus forecast. The chief economist at State Street Global Advisors also discusses the committee’s 50/50 recession odds for 2023, their surprising forecast for a rate cut by the end of the year (signaling their confidence in the Fed’s ability to bring down inflation), how the economic outlook may affect loan demand and credit quality.
As the Federal Reserve continues its efforts to drive inflation lower this year and next, the ABA Economic Advisory Committee expects stalling economic growth in 2023, followed by a modest recovery in 2024. On the latest episode of the podcast — sponsored by xChange — EAC Chair Simona Mocuta shares the committee’s consensus forecast. The chief economist at State Street Global Advisors also discusses the committee’s 50/50 recession odds for 2023, their surprising forecast for a rate cut by the end of the year (signaling their confidence in the Fed’s ability to bring down inflation), how the economic outlook may affect loan demand and credit quality.
21 min