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Congressional Budget Office projects lower inflation and higher unemployment into 2025 

WASHINGTON (AP) – The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as...

Congressional Budget Office predicts slower economic growth and 4.7% unemployment into...

WASHINGTON (AP) – The Congressional Budget Office reported Wednesday that economic and job growth so far this year has been stronger than forecast in February, but...

Fed attacks inflation with another big hike and expects more 

WASHINGTON (AP) – Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a...

Biden administration forecasts $1.03T deficit, down $400B

WASHINGTON (AP) – The Biden administration is forecasting that this year's budget deficit will be nearly $400 billion lower than it estimated back in...

Inflation Reduction Act may have little impact on inflation 

WASHINGTON (AP) – With inflation raging near its highest level in four decades, Congress is poised to approve President Joe Biden's signature Inflation Reduction...

U.S. monthly budget deficit eases to $165B in Oct., down 42%...

The United States monthly budget deficit fell in October as the government collected more taxes from individuals and corporations thanks to a much improved...

More red ink: U.S. budget deficit through July hit $2.54T

WASHINGTON (AP) – The United States budget deficit hit $2.54 trillion for the first 10 months of this budget year, fed by spending to...

Budget office: $15 wage would reduce poverty, increase debt and joblessness

WASHINGTON (AP) – Increasing the minimum wage to $15 an hour would reduce the number of Americans living in poverty and boost wages for...

U.S. economy shrank at 5% annual rate in Q1

WASHINGTON (AP) – The United States economy shrank at an even faster pace than initially estimated in the first three months of this year...
U.S. GDP declined at a 4.8% annual rate in the first quarter and the CBO projects an annualized decline of 40% in the second quarter due to COVID-19 related shutdowns. / AP FILE PHOTO DAVE KOLPACK

U.S. economy shrank at 4.8% rate last quarter as virus struck

WASHINGTON (AP) – The United States economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the...
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