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Feb 15
  • Webinar

2024 US Economic Outlook and What It Means for State Budgets and Credit Ratings

  • Thursday, February 15, 2024
    2:00 PM Eastern Standard Time
    • Webinar
View Event Details:

The economy continues to defy expectations. The recession economists predicted this time last year never materialized. The job market remains strong, and inflation seems to have stabilized. However, state revenue collections are slowing and the flow of federal stimulus funds to the states is winding down. What does all this mean for state budgets and state credit ratings? Hear Fitch Ratings’ economic forecast for 2024, along with insights on state credit quality and what to watch for in the year ahead.

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Resources:

  1. Fitch: 2024 U.S. Economic Outlook
  2. Press Release: U.S. Consumer Spending Likely Moderates in 2024
  3. FitchWire: U.S. States in Strong Fiscal Position Despite Weaker Revenues
  4. Press Release: World Growth to Fall Sharply in 2024
  5. FitchWire: California Budget Solutions May Weaken Fiscal Resilience in Outyears
     

 

 

Eric Kim
Eric Kim is a senior director in Fitch Ratings’ U.S. public finance department and head of the U.S. states rating team. He is a member of the tax-supported ratings group, focusing on state and local government credits. Previously, Kim was chief of staff for the first deputy commissioner at the New York City Taxi and Limousine Commission. He earned a BA from Brown University and a master’s from the Wagner School of Public Service at New York University.

Olu Sonola
Olu Sonola is head of U.S. Economic Research at Fitch Ratings, where he’s responsible for coverage of the labor market, consumer spending, inflation, demographics and other areas. Sonola frequently speaks about the U.S. economy to Fitch analysts’ investors, issuers and the media, and is often quoted by major media outlets. He earned a bachelor’s degree in economics from Lagos State University, a master’s from Columbia University and a Ph.D. from Rutgers University. He also holds the Chartered Financial Analyst designation.

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