Conference Board Sees Flat Economy in 2023

The video discusses economic projections for the next year, predicting flat GDP growth with a shallow recession. It highlights the role of rents and services in driving inflation and suggests that labor market dynamics, such as labor shortages and worker hoarding, may mitigate the recession's impact on employment and consumption.

What is the expected economic growth for next year according to the speaker?

• Decline

• Rapid growth

• Flat growth

• Significant growth

Which component is primarily driving current inflation, as mentioned in the video?

• Technology services

• Fuel costs

• Rents

• Food prices

Why are rents considered 'sticky' in the context of inflation?

• They are unaffected by market changes

• They are easy to adjust

• They reflect past housing market trends

• They fluctuate frequently

What is the expected nature of the upcoming recession?

• Severe

• Shallow

• Non-existent

• Deep and prolonged

How might labor shortages impact the recession's effect on the labor market?

• Lead to mass layoffs

• Cause a hiring freeze

• Prevent a major hit to employment

• Increase unemployment significantly