Solid hiring reported in Friday's November jobs report, as well as a range of other recent economic data, are raising hopes that the U.S. economy will achieve a “soft landing” next year rather than a widely feared recession.
A so-called soft landing would occur when the economy slows enough for inflation to fall to the Federal Reserve's 2 percent target without plunging into a deep recession.
It's a tricky task. The Fed has sharply raised its key interest rate to curb borrowing and spending and curb inflation. The risk is that the Fed miscalculates and keeps its key interest rate – which affects many consumer and business loans – too high for too long and ends up triggering a recession.
Find out how the economy is performing in Tucson and Arizona.
How the economy is developing in Tucson and Arizona
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