Even if the U.S. avoids a recession in 2023, consumers and investors could face a grinding slowdown that likely won’t let up until 2024, according to Moody’s Analytics chief economist Mark Zandi.
Zandi even coined a new term to describe the protracted downturn, calling it a “slowcession.”
While Zandi believes the Fed’s most aggressive interest-rate hikes in decades will affect GDP growth, he thinks a strong U.S. labor market and other factors relating to the consumer should help prevent an outright contraction in the economy.
Germany’s newly constructed liquefied-natural-gas terminal has received its first full cargo from the U.S., as Berlin races to shore up its supply after the end of its decades long energy relationship with Russia.
The shipment came from Venture Global LNG, which last year gave final approval for a project near New Orleans—the first new U.S. LNG plant to receive a green light in three years.
Futures are up after stocks slipped yesterday. The Dow Industrials lost 10, the NASDAQ fell 79 and the S&P 500 edged down 15.
