A Baltimore economist known for his sense of humor left the punchline of his New Castle County Chamber of Commerce speech Tuesday to the last bit of his presentation: “It will come nearly a year after I initially anticipated, but recession is coming in 2024,” Anirban Basu told the 200 people attending the chamber’s sold-out annual State of the Economy …
Fed’s Harker doesn’t expect recession, more rate increases
Another rise in interest rates is not needed and the U.S. economy seems unlikely to tip into a recession, the president of the Philadelphia Federal Reserve Bank told the Delaware State Chamber of Commerce Friday. Patrick T. Harker, a former president of the University of Delaware, also said wages are falling slightly and that he expects the unemployment rate to …
Revenues fall slightly as state noses into post-COVID economy
Delaware may have passed the peak of a rise in post-covid revenues, the Delaware Economic and Financial Advisory Council heard Monday. Financial experts call that peak an “inflection point,” akin to that moment when roller-coaster riders feel a brief lift in their tummies before the coaster takes a plunge. That doesn’t mean the state’s finances will plunge. Only that they …
State: $677M surplus projected for 2024, but recession looms
Delaware economic experts on Monday predicted a budget surplus of $667.1 million for fiscal year 2024, but warned the state is likely already in a recession that could affect that forecast. During the meeting of the Delaware Economic and Financial Advisory Council, revenue officials said they expected announcements that a recession either started last week or will this week. The …