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🔎 Market Mysteries

What's going to happen in 2024?

Hey friend - Welcome back to our regular deep dives into the most significant economic trends facing our lives and our planet.
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Our answer:

Last year, we said 2023 would be the year of the return to a normal, slow-growing, mature American economy operating without the support of emergency government programs. That’s pretty much what happened, despite broad certainty that we would fall into a deeper economic slowdown with higher unemployment.

This year, we’ll remind you that predicting what will happen in the next year for the economy is like predicting the weather. Understanding the trends helps us prepare. If we expect a chance of rain, we can pack an umbrella and grab it when the clouds grow darker. Otherwise, we enjoy being wrong. Predicting people’s emotional reactions to the economy, aka the stock market, is a waste of energy. Let’s understand the trends that will affect us, the risks, and how to position ourselves for success with our careers, homes, and investments.

Is the economy in shambles?

You may not believe me if I told you this was one of the best years for the economy in our lifetime. Looking at the main metrics of wealth and business activity, economic growth (real GDP) surged, the stock market posted a massive rally to nearly a new high, home prices hit new records, and unemployment remained near historic lows. This all happened while economists were virtually certain that the dramatic policy changes from the Federal Reserve would push the economy into a downturn.

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