Eric Diton, President of The Wealth Alliance, believes 2022 will be a “transition towards normalcy.” He told NBC News, “It means the global economy is going to continue to grow but not nearly at the rates that we saw in 2021. It means that inflation will still be stubborn — but going into the latter part of 2022, I think we’re going to solve a lot of those supply chain and employment issues.” Goldman Sachs economists have warned their clients that in terms of next year, inflation will “likely get worse before it gets better.”
NBC News/Martha C. White
From real estate to inflation, here’s what to expect from the economy in 2022
After a second consecutive year in which the word “unprecedented” did more than its fair share of narrative heavy lifting, economists are looking ahead to 2022 with a sense of wariness: Sharply escalating prices and the uncertain severity of the omicron variant of the coronavirus cast twin shadows over forecasters’ expectations, but some still found reason for optimism in the face of such unknowns.
“2022 is what I’m going to call a transition towards normalcy,” said Eric Diton, the president and managing director of The Wealth Alliance, an investment advisory firm.
You can read the full story, here.
Fox Business/Megan Henney
Inflation sticking around in 2022
American consumers are grappling with the fastest price increase in decades, with the cost of everything from cars to gasoline to food soaring nationwide.
And the problem may get worse before it starts to improve.
In a recent analyst note to clients, Goldman Sachs economists warned that pandemic-induced disruptions in the global supply chain – which have caused congestion in ports and warehouses nationwide – could last longer than expected as surging demand struggles to keep up, meaning that inflation metrics will remain “quite high for much of next year.”
“It is now clear that this process will take longer than initially expected, and the inflation overshoot will likely get worse before it gets better,” they wrote.
Read the full story, here.
Greg Heilman/AS USA
Stimulus checks, benefits and other US economic stories in 2021
After experiencing an economic collapse not seen since the Great Depression, the US economy has been making record strides toward full recovery. At the end of 2020 that recovery seemed to be slowing down but two covid-relief packages supercharged the bounce back to health.
However, even though the economic recovery continues the virus remains with a new surge of infections as well as a new variant that is the most contagious yet. As the second year of the pandemic comes to a close, AS USA took a look back at the main news stories from 2021.
Continue reading, here.