The Texas economy is expected to continue its expansion, even in the face of market volatility, according to retired Assistant Vice-President & Senior Economist of the Federal Reserve, Keith Phillips.
“The most reliable signal of recession has been a yield curve inversion – by this measure probability of recession remains very high, Phillips told a packed house at the 2024 Economic Outlook, hosted by the Greater San Marcos Partnership.
Phillips said an argument can be made that this time is different due to the pandemic, but the same dispute has been made in the past.
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