Scott Kanowsky | Investing.com
Published Sep 12, 2023 07:34AM ET
Investing.com — The U.S. economy will likely slip into a recession in 2024, according to analysts at Citi, citing the historical precedent set by prior eras of high inflation and tight jobs markets.
Recent economic data suggest that the Federal Reserve’s recent run of interest rate hikes have helped to cool the pace of price gains in the world’s largest economy back down closer to its 2% target. Labor demand has remained broadly resilient, while the unemployment rate has held at relatively low levels.
In a research note on Tuesday, the analysts pointed to a “meaningful moderation” in wage and price growth, adding that the jobless rate has remained “surprisingly low.” They said the economy seems to be on a trajectory that “feels broadly in line” with a…
