From gas prices to grocery bills, when will soaring inflation finally come to an end? Economists provide their insights into what's in store for 2023.
"It's probably going to be lower next year," Kevin Kliesen, business economist and research officer at the Federal Reserve Bank of St. Louis, told CNBC in an interview. "How much lower is it? We're not quite sure. Inflation can be very hard to predict."
Still, some experts are concerned that the historic pace of interest rate hikes from the Fed, aimed at cooling down the hot economy, could spur a recession once the dust settles. However, any potential downturn is expected to be mild, The Conference Board CEO Steve Odland told CNBC. "It's really an employee's market here," Odland said. "Wages are rising quite rapidly. This could be a much less painful experience with the Fed trying to tame inflation than it has been in the past."
Watch the video above to find out when experts think high inflation could finally come to an end, and whether the U.S. will need to suffer a recession before it can get there.
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Here's when Wall Street thinks inflation could finally endFrom gas prices to grocery bills, when will soaring inflation finally come to an end? Economists provide their insights into what's in store for 2023.
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