By PlansforLess Team
2024 Plans4Less Outlook
1. Fed doesn’t need a recession to cut rates
The Federal Reserve is willing to cut rates even if the U.S. economy doesn’t dip into a recession in 2024, Chair Jerome Powell said. “It could just be a sign that the economy is normalizing and doesn’t need the tight policy,” he said. With the “soft landing” seemingly having occurred, we see the markets continuing in a positive direction. The 2024 interest rate schedule plotted by the Fed’s Powell should be a net positive for both commercial and the more interest rate sensitive residential real estate markets.
Outlook: We think the economy as a whole will continue to grow in 2024 and we feel the idea of a recession is in the rear view mirror. GC’s, Subs, Architects and Engineers will be heading into a fertile macroeconomic environment in 2024.
