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| Name | U.S. Economic Outlook: The Year Ahead | Global Market Outlook 2023 |
| Video Uploader | Video From RBC Capital Markets |
| Upload Date | This Video Uploaded At 13-12-2022 17:50:43 |
| Video Discription | Get the trends that will shape the world’s biggest economies: https://www.rbccm.com/en/global-market/gmo2023/episode/calculating-the-price-of-volatility In our view, 2023 is set to be a challenging year for the US. Recession is likely to make itself felt in earnest around the middle of the year. The sluggish economic backdrop should persist throughout 2023 and into 2024. Inflation, however, should continue to slow. Core inflation could sink to between 3% and 4% by mid-year, and below 3% by the year-end. We expect this will be an organic decline, starting even before the Federal Reserve interest rate hikes have had a chance to take effect. Fed hikes are likely to continue for a while, but we believe the cycle will end in the first half of 2023. Rate cuts would then be on the agenda, though these are expected to be limited to a couple of reductions and economic activity is unlikely to justify more aggressive easing. Unemployment may rise again, potentially reaching around 5%. This should about a reduction in wages, which in turn will likely have a dampening effect on consumer appetite. While we expect only modest job losses in 2023, this may change depending on corporate profitability levels. Over the past year, profits have only been retained because companies were able to pass on price increases. If spend volumes remain flat, businesses may seek more significant workforce cuts. About RBC Capital Markets – An Innovative, Trusted Partner RBC Capital Markets is recognized by the most significant corporations, institutional investors, asset managers, private equity firms, and governments around the globe as an innovative, trusted partner with an in-depth expertise in capital markets, banking, and finance. We are well-established in the largest, most mature capital markets across North America, Europe, and the Asia-Pacific region, which collectively encompass more than 75% of global investment banking activity each year. About Royal Bank of Canada We are part of Royal Bank of Canada (RBC), a leading, diversified provider of financial services and one of the strongest banks globally. Founded in 1864, RBC is the 10th largest bank worldwide and the 5th in North America, as measured by market capitalization. RBC is among a small group of highly rated global banks and is recognized time and time again for its financial strength, market leadership and philanthropic work. For information on our legal terms of use visit: http://spr.ly/6050GGRH2 |
| Category | News & Politics |
| Tags | Global Market Outlook | United States | economy |
