Economic forecasters have become significantly more optimistic.Ī January survey by the National Association for Business Economics found just 42% of forecasters thought the U.S. That seems contrary to what many were expecting? Thanks to that strength, wages are now climbing faster than prices, so workers can actually buy more with their paychecks.Īll of that is pretty encouraging and suggests there might be a wider path to the elusive "soft landing," in which inflation is tamed without a big jump in unemployment. And employers are still adding a couple hundred thousand jobs every month. The unemployment rate is currently 3.6%, close to a 50-year low. What's more, this progress has come with very little pain in the job market, even as the Fed has raised interest rates in the most aggressive fashion since the 1980s.
Economy Why inflation is losing its punch - and why things could get even better
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