There seems to be a mismatch between businesses, the economy, and the public.
Many businesses are seeing record profits and a massive amount of innovation, but inflation and interest rates are high, and many people are struggling.
There's a lot of fear, uncertainty, and doubt.
With that in mind, here is an infographic showing the 2024 Projections for What's Next for the U.S. Economy.
via visualcapitalist
Before I get into the chart above, I want to remind people that the U.S. is resilient, and it seems like public sentiment is moving in a positive direction.
That said, 84% of CEOs and 69% of consumers think we're headed toward a recession. Meanwhile, the Fed is positive we won't ... and banks are almost positive we won't.
It seems like they know something we don't ... or maybe vice versa.
To lend some credence to the bullish sentiment, consumer spending is still high despite inflation and interest rates. In addition, Retailers are still posting solid earnings.
Unfortunately, we're increasingly seeing consumers resort to borrowing (including short-term lending options) to pay for goods. Household debt has hit a record high of $17 trillion in March.
What do you think?
