RSM chief economist Joe Brusuelas joins Market Domination to discuss what is next for the US economy. Brusuelas points out that the economy grew at a 3% pace in the second half of 2024, while inflation remains persistent, particularly in the services sector. Combined with uncertainty surrounding the incoming presidential administration, “it spooked the market a little bit,” he tells Yahoo Finance. Looking ahead to 2025, he projects an average 10-year yield of 4.5%, warning that if yields reach 5%, conditions could “get a little shaky.” He references March 2023, when the 10-year yield exceeded 5%, triggering a mini-banking crisis among local and regional banks that required Federal Reserve intervention before things “materially improved.” However, he observes that the post-pandemic economy has become more inflation-prone, stating, “This economy is growing at a much faster pace than the long-term trend would otherwise suggest,” adding, “Our framework looks pretty good right now.” So, what is driving that economic growth? Brusuelas gives his three reasons why in the video above.
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