Economists see brighter outlook for 2024. Here's why.
CBSN
The U.S. economy is having what some experts are calling a "Goldilocks" moment.
A panel of economists expect this year to be characterized by faster growth, shrinking inflation and healthy job creation — a far cry from the widespread fears of a recession that marked 2023. The National Association for Business Economics (NABE) on Monday predicted that gross domestic product — a measure of the value of goods and services — will rise 2.2% in 2024, a significantly more bullish forecast than what the group projected only two months ago.
Inflation, which drives up the cost of groceries, rent and car insurance, among other spending categories, is expected to continue slowing this year. NABE forecasts that the Consumer Price Index — a basket of common goods and services — will decline to an annual rate of 2.4% this year, compared with 4.1% in 2023 and 8% in 2022. Personal consumption expenditures (PCE), another closely watched gauge used by the Federal Reserve to assess price changes, is also expected to continue easing.
This story previously aired on Sept. 15, 2018. News report: Today, in a 5-1 decision, the California State Supreme Court ruled that Rodney Alcala did not receive a fair trial. Juror: We, the jury, find the defendant, Rodney James Alcala, guilty of the crime of murder in the first degree. Victim Robin C. Samsoe… "I wanna kill, I wanna kill, I wanna see blood and gore and guts and veins in my teeth. Eat dead burnt bodies. I mean, kill, kill, kill, kill." Jury member [in court]: We, the jury … determine that the penalty to be imposed upon defendant, Rodney James Alcala, to be death. D.A. Cyrus Vance to reporters: For both families, who had lost all hope that these cases would ever be solved, the pleas by Rodney Alcala, and today's sentencing brings closure to painful chapters in their lives.
A new law aims to strengthen reporting requirements for technology companies to combat online predators seeking to exploit children. One dad told CBS News that he hopes the law will save children like his son, who died by suicide after becoming ensnared in a "sextortion" scheme when he was 17 years old.