October 7, 2024
The National News Desk recently published an article featuring Jay Zagorsky, Clinical Associate Professor of Markets, Public Policy, and Law, discussing the resilience of the economy despite elevated interest rates.
The Federal Reserve is transitioning its focus from battling inflation, now down to 2.2%, to fostering economic growth by gradually cutting interest rates. This strategy aims to promote borrowing and spending, which are essential for stimulating economic activity. Despite this positive outlook, consumer confidence has waned, and spending has become more selective.
“There are always unknowns and stumbling blocks to economic progress in the short term. While every decade has seen its share of problems, I am optimistic the US economy will continue its remarkable resilience it has shown since the end of World War II.,” Zagorsky adds.
Experts remain optimistic about the economy’s ability to adapt and thrive, citing its historical resilience in the face of challenges.
