Morgan Stanley Chief Global Economist Seth Carpenter spoke in an interview (full transcript here) ICYMI.
In brief:
- a soft landing for the U.S. economy is still in the cards
- a recession is avoidable
- Job market is strong. But it's slowing. Spending has started to moderate, especially the big gap we saw with the difference in spending on goods versus services. So we do think the economy is slowing, but as the revised data show, as all of the incoming labor market data show, we're still in a pretty solid place for now.
