The U.S. economy remains riddled with high prices, aggressive federal rate hikes, and rising recession fears. However, Goldman Sachs expects inflation to drop substantially in the long term. The bank expects core personal consumption expenditure to fall to 2.9% by December 2023 from the current 5.1%.
Moreover, Wharton professor Jeremy Siegel expects 2023 to be a strong year for equities. According to him, 90% of the inflation has ended. He said, "It's taken way too long for the Fed to get it, and they haven't gotten it yet that inflation is basically over, but they will, and I think they're going to get it maybe very late this year or early next year."
