Recession fears are rampant in the face of widespread macroeconomic headwinds. By the end of 2023, the unemployment rate is expected to reach 4.4%. However, while a recession appears to be on the horizon, it is expected to be mild.
Moreover, following favorable October and November inflation data, the Fed slowed the pace of rate hikes by announcing a 50-basis-point increase in December. Nonetheless, the market is expected to remain volatile as the Fed hinted at continuing rate hicks through 2023.
