The Federal Reserve has announced its decision to leave interest rates unchanged for the remainder of 2023, leaving investors unsure about what may lie ahead for the US economy and markets in 2024.
Vanguard Senior Economist Andrew Patterson and Andrew Levin Dartmouth College Professor of Economics join Yahoo Finance Live to weigh in on the profound impacts the COVID-19 pandemic has left on the US economy.
“We’re not done here, these core measures of service inflation are high and workers want to catch up with the cost of living, and those things are not over yet,” Levin, a former Federal Reserve Board Special Adviser, notes.
“Whether you’re talking about inflation… [or] labor market reports, nuance is going to matter in those going forward as we try to navigate 2024 and anticipate when the Fed is going to start cutting and why,” Patterson states.
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