While the congressional budget office is forecasting a drop
in inflation and an uptick in unemployment for 2024.
A newly released report from the CBO predicts that inflation
should almost reach the feds target of 2% next year.
The CBO expects the unemployment rate to rise from the current 3.7% to 4.4%
by the end of next year and then stay around that level through 2025.
The CB is also projecting gross domestic product or
GDP to drop from 2.5% to 1.5% next year.
We should know that since the pandemic started,
the economy hasn't performed as expected most of the time.
I'm sure our viewers know that,
but the CBO said that its predictions are quote,
highly uncertain end quote.