Here's why the Fed doesn't see a US recession in coming years
The Federal Reserve Does Not Foresee a Recession in the Near Future #
The Federal Reserve’s policymaking committee recently released new economic projections suggesting that there are no signs of a recession on the horizon for this year or the following year. Analysts, including Goldman Sachs’ chief economist, share this sentiment and believe that economic growth will be stronger than previously expected. The labor market is robust, inflation is low, and corporate earnings and the stock market have been performing well. The US economy is expected to remain solid with higher interest rates. However, any unforeseen economic shock could disrupt this positive outlook.
Reddit Makes Its Debut on the New York Stock Exchange #
Social media company Reddit recently made its long-awaited debut on the New York Stock Exchange. Shares started trading at $47 and reached a high of $57.80, indicating a promising start for the company. This significant milestone, as one of the first social media companies to go public in years, could set the tone for other companies considering initial public offerings. Following its initial surge, Reddit experienced a slight decline in share prices. Nevertheless, its performance will be closely watched by investors and analysts.
Key Events This Week #
Monday: The Chicago Fed releases its National Activity Index for February. The US Commerce Department provides data on sales of new single-family homes in February. Fed Governor Lisa Cook delivers remarks.
Tuesday: Earnings reports from McCormick and GameStop. The US Commerce Department releases data on new orders for durable goods in February. S&P Global publishes the S&P CoreLogic Case-Shiller National Home Price Index for January. The Conference Board releases its consumer survey for March.
Wednesday: Fed Governor Christopher Waller delivers remarks.
Thursday: Earnings report from Walgreens Boots Alliance. The US Commerce Department releases the final estimate of fourth-quarter gross domestic product. The US Labor Department reports the number of new applications for unemployment benefits in the week ended March 23. The University of Michigan shares its final reading of consumer sentiment in March. The National Association of Realtors reports February home sales based on contract signings.
Friday: US markets are closed in observance of Good Friday. The US Commerce Department releases February data on household spending, income, and the Fed’s preferred inflation gauge. Fed Chair Jerome Powell delivers remarks.