The U.S. economy appears headed for a soft landing, with recent economic data pointing to an ongoing recovery, not a recession, White House economist Heather Boushey told Reuters on Friday.
showing the U.S. economy adding jobs at a solid clip in December, with the unemployment rate dropping to a pre-pandemic low of 3.5%, and said the biggest economic challenge now was persistent tightness in labor supply.
A soft landing is the ideal Federal Reserve policy goal after raising interest rates, a situation in which inflation slows but there are not enough job losses to trigger a recession. President Joe Biden had hoped to enact reforms to fund universal preschool and ensure improvements to the "care economy," but failed to win sufficient support in Congress. Prospects have dimmed further given the divided Congress, but Boushey said Biden would continue to push for progress.
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