Economic predictions for the year ahead

On today's Macrocast episode, Ylan, John, Brendan, and John Dick of Civic Science chat about the latest inflation numbers from the core personal consumption expenditures price index, which rose less than expected in November. The group explained that the reaction to the news was broadly a "yawn" as the market remains focused on a soft landing. John Dick also talks through the latest Economic Sentiment Index. He explains that holiday spending will be strong, and notes that credit card debt and use of buy now pay, later services are up as consumers embrace "YOLO spending."

Ylan, John, Brendan, and John also cover the biggest economic moments from 2023, including an overview of the Federal Reserve's action this year, the Silicon Valley Bank collapse, and increased consumer spending on experiences, such as Taylor Swift concerts. 

And what's ahead for 2024? The group predicts large numbers of workers returning to the office, increased consumer spending on health and wellness, and a decrease in spending on streaming services as COVID-19 pandemic trends wane. The group also talks about the 2024 U.S. elections and how the decision of voters at the ballot box could impact the U.S. and international economy.