Posted 2/26/2024, 10:15:00 AM
Economists Upgrade 2024 US Growth Outlook Despite Lingering Rate Hike Risks
- Economists have raised their 2024 US economic growth forecast to 2.2%, up significantly from 1.3% predicted in November
- The economy has remained resilient despite high interest rates meant to curb inflation
- Inflation has cooled from its peak, with economists expecting rate cuts to begin by mid-June
- Job growth and household spending have exceeded expectations
- 41% of economists surveyed cited high rates as the biggest risk to the economy going forward
