After 2022's high prices, recession worries, stock market slides, what's coming in 2023? Vanguard says to watch out for these developments.
2022 was a year of fast-rising inflation, fast-rising interest rates and fast-rising questions about a future recession.
The outlook, released Monday, comes as Americans are trying to peer into the future to guess what 2023 holds for their finances while they manage their holiday shopping and 2022 investments. That echoes the view from Treasury Secretary Janet Yellen, who said Sunday there will be “much lower inflation,” absent any unanticipated shocks to the economy.
In Vanguard’s view, it’s not so bad. “Households, businesses, and financial institutions are in a much better position to handle the eventual downturn, such that drawing parallels with the 1970s, 1980s, 2008, or 2020 seems misplaced,” the authors wrote. Spotting the opportunities When interest rates go up, bond prices go down. So it’s been difficult for bonds with lower returns and “near-term pain” for investors this year, the Vanguard outlook said.
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