Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
White House: U.S. economic growth is expected to slow down significantly this year and inflation will remain stubborn

White House: U.S. economic growth is expected to slow down significantly this year and inflation will remain stubborn

CointimeCointime2024/03/12 00:20
By:Cointime

White House expects a significant cooling of the US economy in 2024. Even if inflation falls, it will stubbornly remain above the Federal Reserve's target. US President Biden announced the fiscal year 2025 budget on Monday, with a forecast for 2024 economic growth of 1.7%, well below the surveyed economists' median estimate of 2.1%. Following an unexpected 2.5% economic growth in 2023, most forecasters believe that economic growth will slow this year under the restraint of high interest rates. The expected numbers in the budget were finalized in November last year, before the strong 2023 GDP data was announced. Although the predicted growth rate is lower than the economists' expectations surveyed by Bloomberg, one of Biden's senior economic aides stated that if looking ahead five to ten years, the government's economic growth rate estimate is higher than many others' predictions.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Honda prepares to send its hydrogen tech to space

Share link:In this post: Honda is working with Sierra Space and Tec-Masters, two space technology companies, to try their high-differential pressure water electrolysis system. Honda aims for hydrogen to help it get all of its cars off carbon by 2040. Honda says it will work with NASA to get the equipment to the ISS on Sierra Space’s Dream Chaser space plane.

Cryptopolitan2025/04/04 19:12

ETH just had lowest quarterly return since Q2 2022: Blockworks Research

The network is at a “pivotal juncture,” Blockworks Research’s Marc-Thomas Arjoon said

Blockworks2025/04/04 18:22
ETH just had lowest quarterly return since Q2 2022: Blockworks Research