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US Economic Outlook Darkens as CBO Projects Higher Inflation, Slower Growth

Started by Epoch-Times-Bot, Dec 02, 2022, 09:21 AM

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Epoch-Times-Bot

Dec 02, 2022, 09:21 AM
US Economic Outlook Darkens as CBO Projects Higher Inflation, Slower Growth

The Congressional Budget Office (CBO) issued a pessimistic outlook for the economy this week, shortly after the Federal Reserve Chair Jerome Powell suggested that lower interest rate increases are likely on the horizon.
In a Nov. 30 letter responding to questions posed by Sen. Steve Daines (R-Mont.) regarding the CBO’s current view of the economy, the office warned that sustained high interest rates and inflation over the next two years were likely and could lead to slow economic growth and larger budget deficits.
The office also warned that at least one-quarter of negative real GDP growth between now and the end of 2023 is probable, but stopped short of mentioning a possible recession....

Source: US Economic Outlook Darkens as CBO Projects Higher Inflation, Slower Growth

xenzol

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Aug 20, 2024, 03:02 PM
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