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NRF Economist Says Labor Market and Interest Rates Will Play Major Roles in 2024
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend largely on the labor market and what the Federal Reserve does with interest rates, National Retail Federation Chief Economist Jack Kleinhenz said today.
“Federal Reserve officials have tough policy choices ahead as they decide on what to do and when,” Kleinhenz said. “There is still a risk that keeping rates too high could curb the economy’s momentum more than necessary. Yet if they lower rates too soon...
Shoppers See Lower Inflation on the Horizon
Consumers expect inflation to stay high over coming months but decline in the years ahead to levels closer to those seen before the pandemic, according to recent surveys likely to be welcomed by the Federal Reserve.
If shoppers keep thinking inflation will fall, that will help cause it to do so, Fed officials believe. This could mean that the central bank wouldn't have to raise interest rates as high as otherwise to slow price increases.
Fed officials are monitoring expectations, among many economic factors, as they weigh how much they need to raise
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