2023’s Major Economic Headlines from D.C.
TL/DR –
The article discusses the economic events of the past year, including potentials for a recession, the effects of artificial intelligence, the banking crisis, and labor organizing. The conversation between Kimberly Adams and David Brancaccio focuses on the political drama in Washington, D.C., including legislative hurdles and ongoing crises. They also note that despite the lack of new legislation, significant pieces from the Biden administration are beginning to be implemented, and they anticipate a costly and technologically advanced election in 2024.
Economic Highlights of the Year and Predictions for 2024
The past year has been a rollercoaster for the economy; the pending recession, the influence of artificial intelligence, an early banking crisis, and ongoing labor organizing. And don’t forget the Taylor Swift mania.
At Marketplace, we’ve been forecasting 2024 predictions for the housing market, the car market, workplace trends, labor unions, and streaming services.
However, Washington, D.C. was overshadowed by what didn’t occur. Senior Washington Correspondent Kimberly Adams discussed the year’s economic news and the upcoming year with “Marketplace Morning Report” host David Brancaccio.
We reflected on the scant new legislation passed in 2023 and reviewed how the ongoing drama in the capital, from House Speaker fights to potential government shutdowns, affected economic outcomes. The coming year could see similar unresolved issues.
We also noted the executive branch’s power to execute legislation, such as the CHIPS Act that aims to build domestic semiconductor manufacturing. Despite delays, the infrastructure for EV-charging from the Inflation Reduction Act is underway.
Looking ahead, 2024 is set to be the most expensive election ever, and we expect the economy to be a top issue. As artificial intelligence and technology advances, we predict hyper-targeted messages about economic trends will influence voters in the upcoming election.
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