THE THREE PER CENT SOLUTION?

“Overall economic data has come in stronger than expected,” says Goldman Sachs in its latest note. “The economy has been incredibly resilient,” adds the bank’s CEO, David Solomon. The predicted recession remains on the edge of an ever-distant precipice, one that seems to have retreated from the end of this year to early next, then to late next year, then to 2025. Indeed, secretary of the treasury Janet Yellen now says “my odds of it, if anything, have gone down – because look at the resilience of the labor market, and inflation is coming down.”