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Marketplace All-in-One

A sunny outlook, courtesy of American business economists

Marketplace All-in-One

Marketplace

Business, News

4.51.4K Ratings

🗓️ 26 February 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

Recession talks are receding and the the prospects of a soft landing are getting bigger, at least according to a new forecast by the National Association for Business Economics. But while the pros are betting the economy gets better and better this year, what about everyday folks? Then, we’ll pick up our discussion with model, entrepreneur and activist Bethann Hardison about the fits and starts of diversity in the fashion industry.

Transcript

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0:00.0

It's still expensive to find a place to live and inflation hasn't disappeared

0:05.8

but there's news many pros are betting the US economy gets better and better

0:10.5

this year. I'm David Brancaccio in New York. We lead with decidedly

0:15.1

upbeat assessments of the US economy this morning from economists who work for

0:19.7

American businesses. The National Association for Business Economics updates its forecast

0:25.0

every quarter and compared to what was predicted at the end of last year the group's new outlook

0:29.7

calls for higher economic growth, double the job growth, and lower unemployment.

0:34.8

Marketplace's Mitchell Hartman has that.

0:37.0

The National Association for Business Economics upped its growth projections for this year

0:42.0

based on the strength of consumer spending, business

0:45.2

and residential investment, and government outlays on infrastructure.

0:49.7

University of Arkansas Economist Mervyn Jeberage, who chairs the survey panel, says use of the

0:55.8

R word, recession is fading.

0:58.6

Over the past quarters, the prospects for recession seem to get smaller,

1:02.8

prospects for soft landing larger,

1:04.5

so now three quarters of our panelists

1:06.2

expect a soft landing.

1:07.6

Employment's good, spending's good.

1:10.0

Economist Robert Frick at Navy Federal Credit Union agrees the economy is looking strong for

1:15.1

2024.

1:17.1

But when he meets with frontline credit union employees who deal with cash-strapped members, he

1:22.4

hears a different story.

...

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