The Congressional Budget Office reported Wednesday that economic and job growth so far this year has been stronger than forecast in February, but an updated outlook sees parts of the economy as weakening through 2024.
The latest 10-year budget and economic outlook from the nonpartisan office shows how difficult it is to figure out where the United States is going in the wake of the pandemic. Many economists and investors were caught off guard as Federal Reserve interest rate increases, intended to combat high inflation, have not led to mass layoffs and a recession. Rather, growth and hiring have stayed relatively solid.
