Boston Fed President Susan Collins said Wednesday she sees the U.S. economy slowing by the end of the year.
The U.S. economy will start to soften as the year draws to a close and then the weak growth will persist in 2024, said Boston Fed President Susan Collins, on Wednesday.
Recent U.S. economic data has been showing the economy accelerating . The Atlanta Fed’s GDPNow tracker forecasts gross domestic product will pick up to a 5.6% annual rate in the third quarter, up from a 2.1% rate in the April-June quarter. Collins repeated that she believes the Fed can bring inflation toward price stability with “an orderly slowdown” and only a modest unemployment rate increase, rather than a recession.
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