1/ The U.S. economy expanded at a 2.9% annualized rate in the fourth quarter last year, beating expectations despite high interest rates and fears of a recession. For the year overall, GDP grew 2.1% after growing 5.7% in 2021. Most economists, however, think the slowing economy will slide into at least a mild recession by midyear, triggered in part by the highest borrowing costs in decades. (CNBC / New York Times / Wall Street Journal / Washington Post / Politico / Associated Press / Bloomberg / CBS News)
This is a companion discussion topic for the original entry at https://whatthefuckjusthappenedtoday.com/2023/01/26/day-737/