General World News

Home sales will be weak in 2024 regardless of “soft landing”: Fannie Mae

Strong consumption data combined with slowing inflation points to a “soft landing” for the economy, Fannie Mae‘s Economic and Strategic Research (ESR) Group said Thursday. But the government sponsored enterprise still expects a recession next year.

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the details ⇒

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