Arabictrader.com – US Federal Reserve’s economic forecast for December is as follows:
- The U.S. economy is expected to grow 5.5% this year from 5.8% last September.
- According to forecasts, economic growth could reach 4.0% and 2.2% in 2022 and 2023, respectively.
- Inflation, which was 4.2% in September, rose to 5.3% during the December meeting this year.
- According to the US Federal Reserve’s Monetary Policy Committee, inflation is expected to remain at 2.2% in 2022 and 2023, in line with expectations set last September.
- The unemployment rate in 2021 is down to 4.3%, lower than forecast last September.
- The unemployment rate is expected to stabilize at 3.8% in 2022 and 3.5% in 2023, in line with expectations last September.
- As per last September forecast, interest rates are expected to be 0.1% by 2021.
- Expectations for December show a 0.9% increase in interest rates by 2022.
- The US Federal Reserve expects interest rates to rise to 1.6 percent in 2023 and 2.1 percent in 2024.
- The long-term interest rate was only 2.5% until last September.
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