After highlighting some of the investment lessons of 2023 last week, it’s time to turn to the broader economy and the lessons that have emerged. A year ago, there was an almost universal belief that 2023 would usher in a recession. Economists, analysts, and your cousin were all convinced that the Fed’s rate hikes, combined with inflation, would put an end to the economic expansion that started after the brief, but deep COVID-19 recession of 2020. (Consider canceling your trip to The World Economic Forum in Davos, where last year, the group said “growth prospects remain anemic and the risk of a global recession is high.”) As it…
