Recession worries ease on Wall Street as labor hoarding gains steam.
TL;DR Summary
Wall Street economists are becoming less worried about a 2023 recession, with some pushing back their predictions to 2024. Recent economic data has shown the US economy to be more resilient than anticipated, with the labor market adding 339,000 jobs in May and April job openings surprising to the upside. The positive outlooks follow the Federal Reserve's most aggressive interest rate hike campaign in 40 years, with the economy potentially experiencing a "soft landing" rather than a hard recession. However, there are still bearish calls on the economy, with Morgan Stanley predicting a 16% drop in corporate earnings by year-end.
- Wall Street economists are increasingly less worried about a 2023 recession Yahoo Finance
- ‘Labor hoarding’ is gaining steam as businesses brace for a recession CNN
- Consumers are keeping the U.S. out of a recession. It's getting harder CNBC
- What Recession? Economy's Staying Power Poses Big Questions for the Fed. The New York Times
- Jobs With Little Growth Means Less Productivity - First Trust Advisors - Commentaries Advisor Perspectives
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