In this article, we will discuss the 15 states with the best economy right now. If you want to skip our detailed analysis, you can go directly to the 5 States with the Best Economy Right Now . According to a report by Goldman Sachs, the economy of the United States is on track to beat expectations as the year 2023 comes to a close. The GDP of the United States is expected to expand by 2.1% in 2024, compared to the expected 1%. The report adds that the country is on track to defy any recession expectations, with a probability of only 15% for the next 12 months. Goldman Sachs’ research highlights that the primary concern to economists was the Fed pushing interest rates to slow the demand so it could meet supply. However, despite rising concerns, the Fed put the interest rate hike on hold. The Fed will likely keep interest rates steady until a cut during the last quarter of 2024, supported by a continuous 25-basis-point cut per quarter till the Fed funds rate reaches 3.5%-3.75 % in the second quarter of 2026. The report also adds that consumer spending is expected to grow in 2024, as real disposable income is projected to grow by 3%, supported by a 1% increase in the real wage. You can also check out the states with the lowest unemployment rate . Will the Fed Raise Interest Rates? Despite rising expectations of a recession at the start of 2023, the US economy has pulled back stronger, especially during the third quarter. On October 26, Reuters reported that the United States economy grew by almost 5% in the third quarter. A rebound in residential investment also supported the growth after nine consecutive quarters of contraction. The economy’s performance indicates people’s resilience […]
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