Resilience

 NY Times: Economists Predicted a Recession. So Far They’ve Been Wrong. A widely predicted recession never showed up. Now, economists are assessing what the unexpected resilience tells us about the future. By Jeanna Smialek and Ben Casselman - Jeanna Smialek reported from Washington and Ben Casselman from New York.

Instead, the economy grew 3.1 percent last year, up from less than 1 percent in 2022 and faster than the average for the five years leading up to the pandemic. Inflation has retreated substantially. Unemployment remains at historic lows and consumers continue to spend even with Federal Reserve interest rates at a 22-year high.