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https://www.wsj.com/articles/wheres-the-recession-we-were-promised-cd68a992

Where’s the Recession We Were Promised?

The economy and the jobs market turned out to be far less sensitive to interest rates than economists thought, at least so far

James Mackintosh

By

James Mackintosh

June 23, 2023 5:30 am ET

The market looks to be heating up again after the Fed paused its string of rate hikes, but layoffs are starting to pick up and forward-looking economic data is showing signs of a recession. Here is what to look out for this week. Photo: Tolga Akmen

The 2023 recession is missing in action. At the end of last year, economists were more convinced than they’ve ever been that recession was on the way, but it refused to arrive. Now investors, economists and Federal Reserve policy makers are giving up on the idea, expecting the economy to be (a bit) stronger and stock prices and bond yields to be higher.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.