Oddbean

The 'vibecession' is ending as the U.S. economy nails a soft landing, economists say ========== The U.S. economy is reportedly moving towards a soft landing, ending the 'vibecession' characterized by a disconnect between economic performance and consumer sentiment; economists like Brett House and Michael Pearce note improving consumer confidence as inflation cools and the Federal Reserve prepares to lower interest rates; the personal consumption expenditures price index rose 2.5% year-over-year in July; unemployment rate is at 4.2%, trending higher; markets predict a 100% chance of Fed rate cuts on Sept. 17-18; Goldman Sachs reduced recession probability from 25% to 20%; the last recession was in early 2020; House warns that recessionistas will eventually be right, but not in the near term. #Economy #Vibecession #Inflation #FederalReserve #ConsumerSentiment #Recession #SoftLanding #EconomicData #InterestRates #GoldmanSachs https://www.cnbc.com/2024/09/09/the-vibecession-is-ending-economists-say.html