Fed Forecasts Slower Growth and High Rates Ahead, Risks Remain for Economy

The Fed projects modest 1.5% GDP growth in 2024, down from 2.1% in 2023.

Inflation should continue to trend down but likely stays above the Fed's 2% target.

Risk of recession has declined but interest rates will stay high, weighing on growth.

Household debt and pressures like student loans could hurt consumer spending.

Fed hopes to achieve a soft landing but risks remain, including further rate hikes if inflation rebounds.