Biden’s budget expects cooling economy, stubborn inflation
Biden’s budget expects cooling economy, stubborn inflation
International Economy
12/3/2024 6:23

The White House expects the US economy to cool markedly in 2024 and inflation to remain stubbornly, if modestly, above the Federal Reserve’s target.

President Joe Biden’s proposed budget for fiscal year 2025, released Monday, assumes economic activity will increase 1.7% in calendar 2024, well below the 2.1% median forecast of economists surveyed by Bloomberg.

Source: Bloomberg

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