The 2022 economy will be hotter and pricier than the Fed expected just three months ago
officials' latest forecasts are correct, the US economic recovery is going to run hot for a little while longer.
Growth is also expected to exceed the Fed's September estimates. Gross domestic product is now projected to grow 4% in 2022, up from the previous median forecast of 3.8%. That comes at the expense of a slightly weaker expansion the following year. The economy is estimated to grow 2.2% in 2023, down from the last forecast of 2.5%.
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