I think that we would all really, really, like to know what will happen to the economy over the next year.

Will the economy drop into a recession as a result of sharply higher interest rates and an inverse yield curve?

Will moderate inflation and moderate growth allow the Fed to start lowering interest rates by mid-2024? Or will the Fed start lowering interest rates in mid-2024 anyway, just because?

Will inflation stay up at 3.5 to 4 percent and force the Fed to raise interest rates again (but not till after the election this year)?

Or are we approaching a breakdown in the U.S. economy as high government debt meets high inflation meets high debt service costs meets high interest rates?

Let's unpack the official Narrative coming out of the Biden administration. My Narrative Filter notes that there have been several Narratives communicating the beliefs of the Bidenoids to the peasants.

First, we used to hear that inflation was "transitory." And the big spending bill passed in August 2022 labeled the "Inflation Reduction Act" showed that our national leaders believed their Narrative. Of course, in the FY2023 Budget issued in early 2022, there was no inflation forecast:

Inflation at 2.5 percent: nothing to see here, peasants. Only by the FY2024 Budget published........

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