In 2024, the economy is looking bright. Inflation rates and interest rates are both expected to fall throughout 2024. These rates were at an all-time high during the COVID pandemic, but now that things have ended they are becoming just as normal as pre-pandemic rates.
2024 is an election year which will affect the economy. Generally, since 1924, the economy has had a net increase in 20 out of 24 election years. With the upcoming election going to be extremely tight, the economy might be pushed up by all of the spending.
American production has also been up since 2020 and COVID-19. Richard de Chazal, the Chief Macro analyst for William Blair, says that the production rate has been the best in two decades. This could be connected to the opening of new American factories from overseas countries such as Taiwan and China.