FOR THE MACROECONOMIST, THIS IS ALMOST AS GOOD AS IT GETS ... BUT WILL IT LAST?

The article focuses on the recent economic data indicating a moderation in economic activity in the fourth quarter of 2023 while inflation remains relatively high, prompting consideration of potential changes in monetary policy for 2024. It discusses the implications of these trends on economic growth, labor market dynamics, and financial conditions, highlighting the importance of sustained progress toward the Federal Reserve's inflation goal while maintaining a balanced approach to employment.