US Economy Avoids Recession as Inflation Cools, Jobs Market Booms

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US Economy,Recession,Inflation

The US economy defied recession fears, adding 254,000 jobs last month and seeing inflation return to more normal levels. Experts say the strong job market allows the Federal Reserve to carefully monitor inflation while gradually lowering interest rates.

, in which inflation returns to normal levels while the U.S. economy averts a recession, experts told ABC News.

The fresh jobs data defied any such worries by presenting a rosy picture of the economy in which employers are hiring at a strong pace, a large share of people are staying on the job and wages are rising at a fast rate, analysts said. The spike in interest rates elicited gloomy forecasts of a recession from many economists, since high interest rates typically weigh on economic activity, causing businesses to slow investment and lay off workers.

 

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