{"id":11287,"date":"2023-12-18T14:31:42","date_gmt":"2023-12-18T03:31:42","guid":{"rendered":"https:\/\/accountswatch.com\/?p=11287"},"modified":"2023-12-20T09:50:25","modified_gmt":"2023-12-19T22:50:25","slug":"business-update-december-20-2023","status":"publish","type":"post","link":"https:\/\/accountswatch.com\/business-update-december-20-2023\/","title":{"rendered":"Business Update \u2013 December 20, 2023"},"content":{"rendered":"
Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy.<\/p>\n
The Federal Reserve opted to hold interest rates<\/a> at the same level they\u2019ve sat since July, as the central bank\u2019s impactful rate-hiking cycle appears all but over, though the Fed remains coy about doing a complete 180 degree turn.<\/p>\n U.S. business activity picked up in December<\/a> amid rising orders and demand for workers, which could further help to allay fears of a sharp slowdown in economic growth in the fourth quarter.<\/p>\n The\u00a0U.S. economy may not technically be in a recession, but most Americans believe it is. That\u2019s according to a recent survey conducted by Bankrate<\/a>, which found 59% of U.S. adults feel like the economy is in a recession, defined by two consecutive quarters of negative growth.<\/p>\n While retail sales\u00a0are strong, typically an indication of a healthy consumer, an industry economist is deeply concerned about how consumers will pay it all off when the bill comes.\u00a0Bankrate senior industry analyst Ted Rossman\u2019s concerns were heightened, in particular, after noticing an uptick in usage for buy now, pay later (BNPL) services<\/a> as consumers battle growing debt obligations.<\/p>\n Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent<\/a> over the longer run.<\/p>\n Whether it\u2019s the \u201ccollective trauma\u201d cited by the American Psychological Association (APA) or the bad \u201cvibes\u201d noted by internet analysts, there has been a clear break between the U.S. economy\u2019s performance and public attitudes about it, according to new research<\/a> from the\u00a0Chicago Federal Reserve.<\/p>\n Executives from the bankrupt trucking company Yellow turned down a billion-dollar bid from investors<\/a> on Thursday that could have resurrected much of the iconic freight company\u2019s network. But the group of investors led by trucking executive Sarah Riggs Amico vowed to continue, hoping that in the end the courts and the Treasury Department allow them to prevail.<\/p>\n Since its last interest rate hike in July, it seems the Fed\u00a0has made solid progress in lowering inflation\u00a0without hurting the labor market and broader economy. This has spurred many analysts on Wall Street to forecast significant interest rate cuts next year<\/a>.<\/p>\n The U.S.\u00a0economy\u00a0is on track to avoid\u00a0a recession\u00a0next year as inflation returns to normal, according to new economic projections<\/a> released by the Congressional Budget Office.<\/p>\n The Weekly Digest will be taking a break for 2 weeks.\u00a0 See you back in 2024!\u00a0 \u00a0Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n","protected":false},"excerpt":{"rendered":" Welcome to our Weekly Digest \u2013 stay in the know with some recent news updates relevant to business and the economy. Fed keeps interest rates flat again\u2014but barely budges on 2024 rate cut forecasts The Federal Reserve opted to hold interest rates at the same level they\u2019ve sat since July, as the central bank\u2019s impactful … Continued<\/a><\/p>\n","protected":false},"author":12,"featured_media":10588,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[90,87],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nUS business activity picks up in December- S&P Global survey<\/h2>\n
Majority of Americans feel US economy is in recession: survey<\/h2>\n
Holiday debt hangover poised to be \u2018particularly nasty\u2019 this year, analyst says<\/h2>\n
Federal Reserve issues FOMC statement<\/h2>\n
US public\u2019s downbeat view of economy is real, Chicago Fed research shows<\/h2>\n
What the billion-dollar battle over bankrupt freight company Yellow means to truckers and the economy<\/h2>\n
How many times will the Fed cut rates? Here\u2019s what Wall Street expects in 2024.<\/h2>\n
U.S. economy will pull off soft landing in 2024, CBO projects<\/h2>\n
Get in touch<\/h2>\n