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Point/Counterpoint | What will 2023 look like?

Opinions columnist Shahab Khan and Elise Cagnard give their predictions for next year.

December 6, 2022


Columns reflect the opinions of the authors and are not necessarily those of the Editorial Board, The Daily Iowan, or other organizations in which the author may be involved.


 

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The optimist

 With the world finally beginning to open back up, 2023 is a year that I and most people (I hope) will be looking forward to. Here is a list of things that I think will happen next year:

The Federal Reserve will finally start to lower interest rates. Monetary policy is the most impactful policy tool because it has direct implications on the economy and therefore people’s lives. Basically, by raising interest rates, the Federal Reserve is attempting to lower the rate of inflation. However, this policy tool could inadvertently cause a recession. My hope is that inflation will subside to the point where the Fed can stop raising rates and hold off inflation

There will be a peaceful resolution to the war in Ukraine. Russia’s attempt at imperialism in Ukraine has caused immense amounts of suffering, as hundreds of thousands of civilians have died. The Ukrainians have fought bravely and have pushed Russia out of most major population centers and regions, although Russia still has control of Crimea and a couple of other oblasts east of the Donets River. However, as Russian casualties begin to mount and the effects of sanctions take its toll, Russia will be forced to withdraw and sue for peace.

I will get a job and a dog. This one is self-explanatory; I am graduating and really want financial security and a puppy because they are really cute.


Columns reflect the opinions of the authors and are not necessarily those of the Editorial Board, The Daily Iowan, or other organizations in which the author may be involved.


 

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The pessimist

Over the last few years, it seems like humankind cannot seem to catch a break. Unfortunately, I think we will all be disappointed. Here is my list of burdens we will face in 2023:

A recession is coming our way. While there is much debate about the exact timeline of when it will hit, many experts believe it will likely happen midway through 2023. As Shahab points out, it is likely that the Federal Reserve will start to lower interest rates, which will come as a relief to many. However, any policy implementation that lowers interest rates will in turn bring on the recession, but Jerome Powell, the chairman of the Federal Reserve, has stated that lowering inflation is his current number one priority.

Additionally, every new year without an overhaul of our current climate efforts in turn for implementation of more radical climate policy brings us closer and closer to our own destruction. This year has brought significant advances in the U.S. climate strategy, including the most recent United Nations Climate Change conference. Unfortunately, it is still not enough, and without more drastic systematic measures, nothing will help.

Most importantly, I was unable to acquire tickets for Taylor Swift’s Eras Tour. This means that while millions will be enjoying this once-in-a-lifetime experience, I will be bitterly sitting at home watching the live streams on TikTok.


Columns reflect the opinions of the authors and are not necessarily those of the Editorial Board, The Daily Iowan, or other organizations in which the author may be involved.


 

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