Reference Message Network reported on June 20th according to a report from Agence France-Presse on June 18th. Federal Reserve officials lowered their forecasts for U.S. economic growth on the 18th, expecting a slowdown in economic growth, rising unemployment, and accelerating inflation.
According to the latest forecast, Federal Reserve officials now expect that by the end of this year, the U.S. gross domestic product (GDP) will grow by 1.4% (the forecast in March was 1.7%, and in December 2024 it was 2.1%), while the inflation rate is expected to accelerate to 3% (the forecast in March was 2.7%).
They also predict that the unemployment rate will rise to 4.5% (the forecast in March was 4.4%).
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