The U.S. economy will grow at a 'solid' rate of 2.2% this year, the no...
WASHINGTON - The U.S. economy will grow at a “solid” rate of 2.2% this year, the non-partisan Congressional Budget Office forecast on Tuesday, but the federal budget deficit will hit $1.02 trillion.
Economic growth will slow to an average annual rate of 1.7% from 2021 to 2030, CBO predicted, while inflation and interest rate increases will slow in 2023. It hasn’t topped $1 trillion since 2012 and fell to $585 billion at the end of President Barack Obama’s second term in 2016.
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