US Economy Resilient Amid Crises, But Recession Still Possible, Say Economists

US business economists believe that a recession is still possible, but likely to start later than previously thought, according to a survey by the National Association for Business Economics. The survey also showed that inflation is expected to continue to moderate, but it may take until 2025 or later for the Federal Reserve's primary inflation gauge to reach the 2% target. The economists surveyed expect interest rates to remain elevated through the rest of the year, and nearly half expect that the Fed will start cutting rates in the first quarter of next year.