New York Federal Reserve President John Williams said Tuesday that the U.S. economy won't hit its weakest point of the cycle until next year.
The U.S. economy won’t hit its weakest point of this cycle until 2024, according to New York Federal Reserve President John Williams.
“I have actually lowered my forecasts a little bit for next year,” Williams said, in an interview published by the Financial Times. Consumers and businesses will “definitely be seeing slower growth in the second half of this year and in the first half of next year,” Williams said.Financial markets and economists are debating whether the U.S. economy will fall into a recession.“I have pretty slow growth,” he said.On inflation, Williams forecast that headline personal consumption expenditure index would come down to around 3% “over the four quarters of this year” and then 2.5% next year.
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