Economists are forecasting rate cuts in 2024, but with the ongoing uncertainty in the global economy, there is still a looming risk of recession.

According to a recent survey of leading economists, many believe that central banks around the world will have to implement rate cuts in order to stimulate growth and combat the effects of various factors such as rising inflation, supply chain disruptions, and geopolitical tensions. These rate cuts are expected to come as early as 2024, with some economists predicting multiple cuts throughout the year.

However, despite these forecasts, there are still concerns about the potential for a recession in the near future. The global economy remains fragile, with many countries still struggling to recover from the impact of the COVID-19 pandemic. In addition, ongoing geopolitical tensions, such as the Russia-Ukraine conflict, and the lingering effects of supply chain disruptions are creating further uncertainty in the market.

Furthermore, rising inflation rates are also a cause for concern. Inflation has been on the rise in many countries, driven by factors such as increased consumer demand, supply chain disruptions, and rising energy prices. If inflation continues to increase, central banks may be forced to raise interest rates in order to curb inflation, which could in turn slow down economic growth.

In light of these risks, it is important for policymakers to remain vigilant and prepared to take action in order to mitigate the potential effects of a recession. This may involve implementing additional stimulus measures, such as fiscal stimulus packages or targeted interventions to support certain industries.

Overall, while economists are forecasting rate cuts in 2024, the lingering risks of a recession highlight the need for continued vigilance and proactive policymaking in order to support economic growth and stability in the years to come.

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