Transitory inflation? Recession? What else will forecasters get wrong?

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Economists spent 2021 expecting inflation to prove “transitory.” They spent much of 2022 underestimating its staying power. And they spent early 2023 predicting that the Fed’s rate increases, meant to cure the inflation, would plunge the economy into a recession. (NY TIMES)

“US Economy Grew at a 4.9% Pace Last Quarter, Fastest Since 2021” (Bloomberg)

“The forecasts have been embarrassingly wrong, in the entire forecasting community. We are still trying to figure
out how this new economy works.” (Torsten Slok, Apollo Global Management)

“The economy is slowing faster than recent data suggests.” (Bill Ackman, Pershing Capital)

“I want to point out the central banks 18 months ago were 100% dead wrong. I would be quite cautious about what might happen next year.” (JPMorgan Chase CEO Jamie Dimon)

And read these articles:
More insurers coming to Florida
Core Inflation Prices Barely Budged in August
August Housing Market: Median Prices Rise Year on Year

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