Recession conversation

 I want to look at why the word “recession” has been mentioned so much but hasn’t really happened yet. The big reason is “consumer spending”. Curt Long, chief economist at the National Association of Federally Insured Credit Unions says “that consumer spending represents more than half of the economy, so if consumer spending is strong, that alone, generally speaking, is enough to keep the economy from slipping into a recession.” In the first quarter of 2023, gross domestic product grew at a 1.1% rate compared to the previous quarter. This modest level of growth is an improvement from mid-2022 GDP figures, which was the reason they started talking about a recession being possible in the first place. We all know that The Fed has been raising interest rates to slow inflation. Economists at the start of the rate hikes felt that inflation would slow more quickly than it has. The Fed has raised its overnight lending rate 10 times over the last year or so. Hopefully things are evening out , if you have questions go to yoursafemoneyshow.com.