CBO’s Current View of the Economy in 2023 and 2024 and the Budgetary Implications

Congressional Budget Office

No 58757, Reports from Congressional Budget Office

Abstract: According to CBO’s current assessment, economic growth will probably be slower in 2023 than the agency projected in May 2022, reflecting recent developments (including higher interest rates), and faster in 2024, as the economy recovers. Rates of unemployment, inflation, and interest will probably be higher over the next two years than CBO projected in May 2022. Slower economic growth and higher rates of unemployment, inflation, and interest increase federal deficits and debt.

JEL-codes: E20 E24 E60 E62 E66 H60 H61 H62 H63 H68 (search for similar items in EconPapers)
Date: 2022-11-30
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