Fed Set to Double Its Economic Growth Forecast After Strong US Data

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  • Resilience may lead to fewer rate cuts penciled in for 2024

  • Separate tracker from Atlanta Fed is at 5.6% for third quarter

The US economy has been looking so solid lately that Federal Reserve officials will probably need to double their projection for growth in 2023 when they publish an updated outlook later this month.

Following a string of stronger-than-expected reports on everything from consumer spending to residential investment, economists have been boosting their forecasts for gross domestic product. One widely-followed, unofficial estimate produced by the Atlanta Fed even has it expanding 5.6% on an annualized basis in the third…

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