Soft Landing Achieved? Economists Offer Insights for 2024

The U.S. economy will witness slowing inflation and sluggish economic growth over the next year, says the Congressional Budget Office (CBO) in its latest 2023–2025 review. If accurate, the United States will have achieved the widely hoped-for soft landing narrative—averting a recession while tackling inflation and keeping the labor market intact. Many economists agree with the CBO's latest assessment. Economic projections from the nonpartisan budget watchdog show that output growth is expected to slow in 2024, with real GDP tumbling from 2.5 percent in 2023 to 1.5 percent in 2024. This downward trend, the report says, will be…