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Marketplace All-in-One

A quarter of economists expect a recession this year

Marketplace All-in-One

Marketplace

Business, News

4.51.4K Ratings

🗓️ 12 February 2024

⏱️ 1 minutes

🧾️ Download transcript

Summary

Stocks fall; most economists think interest rates are where they should be; consumers more optimistic about their personal finances; inflation expectations dip.

Transcript

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0:00.0

This is the Marketplace Minute. I'm Justin Ho.

0:05.3

Stocks were mixed on Monday. The Dow gained a third of a percent, but the

0:09.4

S&P fell a tenth of a percent, and the NASDAQ lost three tenths percent.

0:14.8

Only a quarter of economists surveyed by the National Association for Business Economics think a recession

0:19.6

will happen this year.

0:21.1

Even fewer expect a recession next year. Most respondents said that the Federal

0:25.1

Reserve's interest rate policy is about where it needs to be right now. But a growing

0:29.4

number of economists think interest rates are currently too high.

0:33.0

Meanwhile, consumers, surveyed by the New York Federal Reserve, said they're more optimistic about their own financial situations.

0:39.0

People expect their household incomes will grow by more than they expected last month.

0:43.7

They expect to spend more too.

0:46.0

The same report found that people expect prices to rise over the next three years by less than

0:50.1

they previously thought.

0:51.8

But one year and five year inflation expectations didn't change.

0:56.2

I'm Justin Ho, with the marketplace minute. You're going to.

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