A global slowdown seems imminent in 2023. However, many experts now believe that the U.S. economy might be able to avoid severe damage. Moreover, economists surveyed by Dow Jones expect the consumer price index rose by 6.5% in December, down from 7.1% in November 2022.
In addition, inflation expectations dropped to the lowest levels since 2021. On the other hand, despite a fall in wage growth, the job market remains stable, adding 223,000 jobs in December. President Biden said, “The unemployment rate is the lowest in 50 years. We have just finished the two strongest years of job growth in history.”
