Wolfers provides 2023 economic forecast

December 21, 2022 In the Bubble

Justin Wolfers, In the Bubble: "(Inflation’s) almost certainly peaked. That’s the mainstream view among both Wall Street and academic economists right now. The Fed’s own forecasts show that it expects inflation to fall relatively dramatically over the next year and in the year after that. Let me try and add a little more context. The debate is not between those who think it’s peaked and those who think it hasn’t. In fact, everyone who watches the numbers closely thinks it’s peaked. The question is how far is inflation going to move from unreasonably high rates down."