22 December 2023
Despite widespread predictions last year, including a forecast by Bloomberg Economics’ Chief US Economist Anna Wong, of a 2023 recession in the U.S. economy, recent data paints a more resilient picture. Contrary to the anticipated downturn, the U.S. economy has demonstrated strength, with unemployment rates remaining at multi-decade lows and inflation aligning closely with the Federal Reserve’s 2% target. However, the economic landscape is not without its complexities, as public sentiment remains markedly pessimistic regarding the economic outlook. In a recent discussion, Wong explores the nuances of these conflicting signals, the unexpected resilience of the U.S. economy in 2023, and key factors to monitor in the coming year.