With only three weeks until 2023 arrives, housing industry executives are adjusting their operations to face what is expected to be another challenging year.
The Federal Reserve will continue its fight to tame inflation — with its seventh consecutive interest rate hike expected from its December 13 and 14 meeting — despite looming concerns of a prolonged recession.
The U.S. GDP is projected to decline 1.3% in 2023 with an inflation under 3% on a year-over-year basis by year-end and federal funds rate of 3.50%-3.75%, after a 4.50% peak in early 2023, according to a Wells Fargo Investment Institute report published Friday.
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