US 2023 Economic Outlook: Economics Professor William Luther Discusses Possible Recession

JP Morgan expects the U.S. economy to grow only about 0.5-1.0 percent in 20-23, which is less than post-pandemic gains and about 1 percent less than the long-term average annual growth rate. Associate Professor of Economics at Florida Atlantic University, William Luther, tells NTD that the outlook is “a bit optimistic,” considering the Federal Reserve is projecting GDP to grow only by half a point. Luther points to competing forces affecting the economy: recovery growth versus inflation-reducing monetary policy.