Economic lookahead: As we ring in 2024, can the US economy continue to avoid a recession?

Good things are in store in 2024. Sakorn Sukkasemsakorn/iStock/Getty Images Plus by D. Brian Blank, Mississippi State University and Brandy Hadley, Appalachian State University With economic forecasters rewriting their 2024 outlooks following recent moves from the Federal Reserve, The Conversation turned to two financial economists to share their thoughts on the upcoming year. D. Brian Blank and Brandy Hadley are professors who study finance, firm financial decisions and the economy. They explain what they’re watching in 2024. 1. At this time last year, many experts saw a downturn on the horizon. Will that long-predicted recession finally come to pass in 2024? The good news is, probably not. The U.S. economy is not in a recession and will likely continue growing. Over the past year, gross domestic product has outpaced expectations, inflation is trending downward and employment remains robust. Real wages have increased, as has consumer spending. Additionally, housing demand is strong and financial markets are at all-time highs. While no one should argue that there will never be another recession, 2024 seems to be an unlikely time for one – unless there’s some unexpected spark like, for example, a new global pandemic. To be fair, optimism leads to risk-taking, which...