2023 outlook: plunging inflation & a recession
Unpacking my expectations for the US economy & its financial markets in 2023.
2023 begins with US inflation last recorded at an annual pace of 7.1% (as per the CPI), and an unemployment rate that remains low, last recorded at 3.7%.
2023 also comes after 2022 saw major asset price declines. The S&P 500 fell by 19.4%, whilst 10-year Treasuries saw their worst total return since at least 1928.
Focusing on the US, this report seeks to …