Here are the main points from the article:

Economy:

• The US economy remains on solid footing despite some slowing.
• The labor market is cooling but not rapidly, with a "low hire, low fire" situation.
• The unemployment rate has been steady at around 4%.
• Economists believe the economy may be headed for a "soft landing," where inflation falls to the Fed’s target without recession.

Fed:

• The Federal Reserve lowered interest rates by 25 basis points in its final meeting of the year, signaling it will slow down the pace of cuts.
• Officials see the fed funds rate falling to 3.9% in 2025, higher than previously projected.
• The Fed expects to cut interest rates two more times in 2025 and two additional times in 2026.

Stock Market:

• Strategists expect a solid-to-strong year for the S&P 500 in 2025, with a median target of 6,600 (11% increase from current levels).
• Only one strategist sees the benchmark index ending 2025 lower.
• Wells Fargo’s Chris Harvey expects the S&P 500 to end 2025 at 7,007.

Inflation:

• The Fed believes it can bring inflation down to its target of 2% without recession.
• Economists are cautiously optimistic about the inflation outlook.

Interest Rates:

• Markets are pricing in one or two additional rate cuts in 2025, lower than previously expected.
• The Fed expects to slow down its easing cycle after launching it earlier this year.