"One year later, growth has instead massively exceeded expectations, with GDP rising 2.3% through Q3 alone and the US adding 2.8M jobs since last November. Meanwhile, inflation has cooled to some of the lowest levels since the initial price surges of 2021, with core PCE inflation already coming in below the Fed’s late-2022 projections. 2023 was a year about defying expectations—turning what was once a bleak outlook into a story of remarkable recovery."
"This year also saw official confirmation that the pandemic era represented the largest wealth increase in modern American history and a rare decrease in wealth inequality, thanks in large part to the booming value of residential real estate. Stock and business ownership became significantly more widespread, and rent-inclusive debt payment burdens eased to the lowest levels in 30 years."