US Economic Outlook: Recession Avoided or Imminent?

Dr. Mark Zandi, the chief economist at Moody's Analytics, has listed five reasons why he believes the US will avoid a recession in 2023, despite warnings from economists and analysts. Zandi argues that excess savings, labor hoarding, light debt loads, anchored inflation expectations, and low oil prices will help the US economy to keep moving forward. He notes that consumers have been spending just enough to keep the economy growing, while companies are avoiding layoffs and relying on foreign immigrants to fill jobs. Additionally, household borrowing has remained prudent, and low oil prices have helped to keep inflation down.