Recession Likely in the First Half of 2024

From March 2022 to July of this year, the Fed raised rates by 500 basis points. But the economy has done well this year, with GDP growth of 2.0%, 2.1% and 5.2% in the first three quarters. Does that mean the lagged impacts of the Fed's aggressive monetary tightening cycle will be fully felt in the year ahead? Is a second wave of inflation remains a major risk? The answers to those questions have implications for equities as the economic environment is likely to be volatile.
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Here are links for more information about Jeff and ClearBridge:

• The Fed is Done, What’s Next? (blog) - https://www.clearbridge.com/blogs/2023/aor-update-the-fed-is-done-whats-next 
• Not Always a Straight Line Down (blog) - https://www.clearbridge.com/blogs/2023/aor-update-not-always-a-straight-line-down 
• Economic Outlook 2024: The Year of Lagged Effects (podcast) - https://www.clearbridge.com/perspectives/podcasts/2023/economic-outlook-2024-the-year-of-lagged-effects