The chattering consensus has swung closer to a soft landing since the Fed suggested last month it might start cutting rates in the coming months. The first 2024 edition of this newsletter lines up recent stories about the capex, construction and logistics inputs that will help decide the cushiness of our landing. Overall, leaders appear quietly confident in their capabilities, are acting smartly to capitalize on growth drivers and — as in the case of the energy execs mentioned below — are being nimble and targeted with their capital. All that makes for a solid, not spectacular, setup for 2024. There is, after all, also value in predictability.

— Geert De Lombaerde