Could We Dodge a Deep Recession in 2024? Here Are The Economic Trends To Watch

Economists are more optimistic going into 2024 than in 2023 when they anticipated a recession. They anticipate slower growth and a possible short and shallow recession. The ratio of job openings to unemployed people is close to pre-pandemic levels, indicating excess demand for labor. Inflation metrics have been improving, with the core PCE price index close to the Federal Reserve's target of 2%. The Fed may cut interest rates in 2024 if inflation remains at target levels.