[jussij]

The predictions of a 'soft landing' being required have turned out to be false, as the USA economy has shown remarkable strength. Compared to the rest of the world the USA economy is booming, with high GDP growth, high employment and low inflation. And with inflation falling, the Fed now has room to start cutting rates. In an environment of falling interest rates with a strong economy it seems highly unlikely the USA will into fall into recession next year, as that would require something of an economic catastrophe.

[aurareturn]

Just my non-expert opinion:

I think the economy looks healthy. But underneath it, I think there is a very sizable population that is way worse off than before. This population lost a ton of purchasing power due to inflation. They also don't own homes which means they couldn't take advantage of the 2.5% mortgage rates. Instead, owning home is impossible for them right now. White collar jobs are now harder to come by. Many of these work gig work. So while they're employed and their wages are higher due to inflation, their living standards have collapsed and is in a recession.

[jussij]

What you're describing is a fairly universal phenomena found in many developed economics around the world. Over the last decade or more many countries have seen a hollowing out of their middle class, with stagnant wages growth and rapidly rising house prices. However, I find it hard to believe the majority of the US population are currently experiencing recession like living conditions, only because the latest US quarterly GDP came in at a whopping 5.2% That GDP figure shows the vast majority of the US population has money to spend, and they are happy to spend it.