Leading economists are increasingly positive about the U.S. economy.
The probability of a recession in the next year has dropped from 54% to 48%, marking the first time it's below 50% in a while.
Economists are fueled by several factors, including declining inflation, a pause in interest rate hikes by the Federal Reserve, and robust job market and economic growth.
Experts predict a sharp increase in the Gross Domestic Product (GDP) for the fourth quarter of 2023.
While 2024's economic growth is expected to start weak, there's confidence in continued growth and a historically low unemployment rate.
The Federal Reserve is thought to have concluded its interest rate hikes, with possible rate cuts in the near future.
Economists expect inflation to decrease in the coming years.
Despite the optimism, there are concerns, including external factors like the Israel-Hamas conflict affecting energy prices.
An increase in bond yields is seen as a potential indicator of a recession, though it's not the sole determinant.
The Federal Reserve's monetary policy, particularly concerning inflation, is a topic of discussion among economists.