Inflation Won't Get Back to Target Until 2024: Girard

The transcript discusses the potential impact of a credit crunch on consumer spending and the economy, forecasting a recession and negative GDP growth. It highlights sector-specific pressures, particularly in the auto industry, and anticipates a slowdown in the labor market. The discussion also covers inflation, the Federal Reserve's actions, and market reactions, suggesting a cautious economic outlook with potential rate cuts in 2024.

What factors are contributing to the tightening of financial conditions?

How might idiosyncratic issues in the auto sector affect broader economic trends?

What are the expectations regarding inflation and the Fed's interest rate decisions?