CBO releases U.S. GDP growth, inflation estimates
The nonpartisan Congressional Budget Office estimates that real gross domestic product, or GDP, will grow 3.1% in 2022, it said in a Wednesday report. “In CBO’s projections, the current economic expansion continues, and economic output grows rapidly over the next year,” the CBO said in its report. The upbeat tone of the report appeared included an implicit prediction that the Federal Reserve will be able to raise interest rates without tipping the U.S. economy into a recession.