The Federal Reserve’s policymaking committee of 19 officials released a new set of economic projections last week, showing that they now expect economic growth in 2024, 2025, and 2026 to be even stronger than they previously thought. “The economy is strong, the labor market is strong and inflation has come way down,” Fed Chair Jerome Powell said Wednesday. Fed officials estimate that growth in 2024 overall will hit 2.1%, then 2% in each of the following two years.
The job market also remains strong. Employers added 275,000 jobs in February and the unemployment rate increased from 3.7% to 3.9%.
https://www.cnn.com/2024/03/24/economy/stocks-week-ahead-fed-recession-coming-years/index.html
4 comments:
The Federal Reserve sees the economy growing even faster than expected, with strong job growth and a lower unemployment rate. Fed Chair Jerome Powell stated that the economy is in good shape, with robust growth and a healthy labor market
What specific factors are driving the Federal Reserve's revised expectations for stronger economic growth in 2024, 2025, and 2026?
With such growth in mind at the FED, do they see the housing market leveling out anytime soon? Because I know this has had a significant impact on younger generations so far as they're struggling to buy/find houses that are priced within their capabilities.
We’ve been seeing a lot of European and Asian countries facing post-pandemic problems regarding deflation. The US recovery post covid is quite impressive. We see that even with structural changes in the workforce, productivity still increased in the US.
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