Published: Jan. 26, 2024 at 5:27 a.m. ET
No one said it would be easy to forecast an economy, coming out of a pandemic, after unprecedented fiscal stimulus and then a steep interest-rate-hike campaign.
But, wow, Wall Street just has had it wrong on the U.S. economy in 2023 from the beginning to the end, and often in between. Even after the full year took place, Wall Street was still wrong-footed by the GDP data for the fourth quarter released Thursday showing 3.3% growth, well ahead of the 2% consensus.
(The…
No one said it would be easy to forecast an economy, coming out of a pandemic, after unprecedented fiscal stimulus and then a steep interest-rate-hike campaign.
But, wow, Wall Street just has had it wrong on the U.S. economy in 2023 from the beginning to the end, and often in between. Even after the full year took place, Wall Street was still…
