This is CBS I on the World with John Bachelor.

Here's John Bachelor.

Beginning of 2024 and the markets and the American economy and confidence.

I welcome Elizabeth Peake, a columnist for The Hill,

economists for Fox News, much on Fox Business, to begin with the new year and the expectation

of the Federal Reserve moving to reduce the cost of money and therefore to offset the slowdown that is apparent reported, possible

across America.

There was no recession in 2023.

You can assume that those who predicted a recession,

99%, as I recall a year ago,

are still added predicting a recession.

But, Liz, a very good evening to you. are still at it predicting a recession but

Liz a very good evening to you I start with the recession

prediction of 2023

has it carried over to 2024 is it still in front of us? Good evening to you.

Good evening, John. Actually, people are much more optimistic going into

2024 than they were a year ago.

Remember, there was a point a year ago plus a few months that 100% of one pretty big survey of economists

and investors were expecting a recession in 2023, a recession, which as we all know did not happen.

And so a lot of investors very wisely took that to be a pretty low point in optimism and of course that's usually

when you should be investing you shouldn't be investing when everyone is

optimistic when everyone seems see sunny skies ahead and of course that's where we are right now.

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