Housing, inflation, interest rates and more: What to expect in the 2024 economy
The 2024 economy is likely to be heavily influenced by a few key factors, such as housing, inflation, and interest rates.
Housing: Home prices are expected to remain stable due to a continued demand in urban cities. Low mortgage rates should continue to support housing market growth, as well as slowing home-price appreciation.
Inflation: With current inflation levels hovering around the 2% target, the Federal Reserve is likely to maintain its accommodative stance going into 2024. However, high levels of federal debt and a potential increase in fiscal spending could lead to higher inflation in the coming years.
Interest Rates: The Federal Reserve is likely to remain at its current zero-interest policy until inflation reaches its target rate. While the near term outlook is for stable rates, if inflation rises rapidly, the Fed may increase rates to temper economic growth.
Economy: With a continued focus on fiscal and monetary policy and a sustained recovery underway, economic growth is expected to remain steady, barring any unexpected shocks or changes in the policy environment.