CBO Predicts Slowing Growth: Unemployment and Inflation to Rise While GDP and Spending Cool
• Unemployment to rise to 4.4% by end of 2024, remain near that through 2025 • Inflation forecasted to fall from 2.9% in 2023 to 2.1% in 2024 • GDP growth to slow from 2.5% in 2023 to 1.5% in 2024 • Consumer spending expected to weaken • CBO projections highly uncertain, factors could lead to different outcomes