Recession in 2023?

Near the end of 2022, economists predicted that there would be a recession in 2023. We are halfway through the year, and that is yet to happen. Many economists, investors, and Federal Reserve policymakers are optimistic, and expect the economy to get stronger, with stock prices and bond yields going up.   A recession refers to a declining GDP and low employment and production rates. When an economy is unable to produce goods and services to its maximum potential, it goes into a recession. A boom is an opposite scenario, where an economy produces more goods and services than it would normally be capable of.  The US hasn't suffered a recession as of June 2023, because energy prices have decreased, and the economy and job market are less sensitive to interest rates. Low energy prices mean higher demand, and thus, easily replace Russian gas. With the economy being less sensitive to interest rates, people have more time to pay off loans. The loans also have lower rates. However, ac...