PLEASE GIVE ME A SHORT REPLY TO THIS POST AND ADD SOME REFERENCES

The article I chose was from the website www.kiplinger.com, and it was written by David Payne who has worked in the U.S. Department of Commerce and has been writing on economics since 1992.

The GDP is the U.S. grew 2.4% this quarter, partially thanks to businesses stabilizing inventories. But, consumer spending, housing, and exports have slowed down. This suggests a possible short-term slowdown. Their is 40% chance of a recession in early 2024. The economy's resilience comes in part to factors like growing personal income, strong financial positions for consumers and businesses, and low-interest debts.

In the short term picture of things, the projected slowdown in consumer and business spending, along with weaker exporting markets and limited programs for spending come to the scenes can reduce our economic growth. Americans have have low expectations for the future though and also businesses will be cautious with their spending too. The banking system should stay stable, but banks may be more careful with lending due to uncertainties in our future like the recession. The Federal Reserve may pause interest rate increases but still aims to control inflation and could raise rates again if inflation remains high.

This slower economy could have long-term effects. It might help bring down inflation and loosen up our labor shortages, allowing supply and demand better flow. If inflation decreases as expected and we hope, the possibility of the Federal Bank cutting interest rates next year is higher. At the end though, the long-term impact on economic growth depends on a few factors, including effective policies on the national and global scale, global economic conditions, wars and crisis potentially appearing, and labor market challenges and productive growth.

From this article I learned that our market fluctuates more often than I thought and a lot more factors play into this happening not just in the moment, but also down the road. Furthermore, in my everyday life since it spoke on the interest rates of the and global affects of the economy it would tie right into my personal and professional life as I am a consumer and also work for the country. In everyday I think that it would ensure me to be more consistently aware of my finances knowing that our economy may not always be stable or well off, but not to be scared to spend so the economy continues to circulate and be a small part of our GDP growth. In my profession I would say that I can push people not to waste resources no matter what they are. This assignment was the most challenging yet and I did have to go look at what a lot of what the author said actually means, this was an enjoyable one though none the less.