The Daily Money: Dreaming of a soft landing

For nearly two years, it's been a hard-knock life. But now there's hope the Federal Reserve's interest rate hikes will result in a soft landing.

Advertisement Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Fri Dec 15 2023 Jessica Guynn | Senior tech and economic opportunity reporter For nearly two years, it's been a hard-knock life. But now economic forecasters are hoping the Federal Reserve's aggressive interest rate hikes will give the nation a soft landing. This week, that rare feat appeared to shift from possibility to likely scenario. Although recession risks are still historically high, it's a potential reversal of fortune from last year, when a soft landing seemed to be little more than a pipe dream. Read more from Paul Davidson about the encouraging signs. Marriner S. Eccles Federal Reserve building in Washington, DC JIM WATSON, AFP via Getty Images GM to lay off 1,300 Michigan workers General Motors will lay off a total of 1,314 employees at two factories in Michigan in connection to ending production of vehicles. GM filed a WARN notice posted Thursday that said it will cut 945 jobs starting Jan. 1 at its Orion Assembly plant in Orion Township. The cuts are related to GM's October announcement that it was delaying production of two all-electric pickups at the plant by a full year. 📰 More stories you shouldn't miss 📰 Theme parks and allergies Theme park food and food allergies don't always mix. Here's how they can. How long is a US passport good for? What you need to know about renewing it How to hide your online gift orders 6 tips to hide your gift orders online from friends and family 🍔 Today's Menu 🍔 In-N-Out mania Customers wait up to 8 hours in In-N-Out drive-thru as chain's first Idaho location opens Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. How to make your daily grind a little funnier How cubicle comedians on TikTok are making us laugh about work and why older workers are not retiring. READ MORE Advertisement Do you eat tomatoes? This brand is issuing a recall due to sulfites. Global Veg Corp.'s Aviator sundried tomato halves were recalled after traces of sulfite were found. READ MORE One chart shows how close we are to a soft landing See how two key economic numbers have trended toward a soft landing as the Fed has boosted interest rates in recent months. READ MORE Christmas shipping deadlines are here: Key dates to get your gifts delivered If you have been thinking about sending a relative or a friend a greeting card or present this Christmas, the time to act is now. READ MORE Buying a car? FTC reveals crackdown on illegal scams to save you money New FTC rules prohibiting illegal bait-and-switch tactics and hidden junk fees will help consumers, advocates say. Here's details. READ MORE What stores are open on Christmas? What to know about Target, Walmart, more Here's what to know about which stores are open and closed on Christmas, including Target, Walmart, Home Depot, Lowe's, Dick's and more. READ MORE Visiting Yosemite National Park in 2024? You'll need a reservation. Yosemite National Park is installing a reservation system to counter traffic congestion and gridlocks. Here's what to know about "Peak Hours Plus". READ MORE Why your 401(k) is happy: Dow closed at record high after Fed meeting The Dow Jones Industrial Average hit a record high Wednesday after the Federal Reserve said interest rates may go down in 2024. READ MORE Check the winning numbers from Wednesday's Powerball drawing The Powerball jackpot hit $535 million after Wednesday night's drawing. You can check the winning numbers here to see if you got lucky. READ MORE Hot sauce and cinnamon twists: DoorDash's top orders include odd pairings The most ordered foods in the U.S. include fries, chicken quesadilla, mozzarella Sticks and Garlic Naan, according to DoorDash's 2023 Trend Report, READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •  Manage Newsletters  •  Terms of Service  •  Privacy Policy/Your California Privacy Rights  •   Privacy Notice  •  Do Not Sell My Info/Cookie Policy  •  Feedback