CBO Director: Economy Rebounding but the Fiscal Situation Leaves the U.S. Vulnerable
America’s economic rebound from the pandemic seems to have begun, according to Phillip Swagel, the director of the nonpartisan Congressional Budget Office.
Read MoreFirst Economic Growth Report under the Coronavirus: Real GDP Falls 4.8% in First Quarter
The decrease in GDP in the first quarter was driven by a decline in consumption and investment.
Read MoreU.S. GDP to Fall 5.6% Due to Coronavirus, According to New CBO Projections
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
Read MoreApril Unemployment Data Show Devastating Effects of the Coronavirus Pandemic on the Labor Market
To slow the spread of COVID-19, lawmakers have asked Americans to stay at home and have forced businesses to close.
Read MoreFed Reduces Target Interest Rate
Yesterday, the Federal Reserve announced a decrease in the federal funds rate — the interest rate at which commercial banks lend to each other overnight.
Read MoreEconomic Growth Rates in 2019 Are on Track to Be Lower Than in 2018
Growth earlier in the year was spurred by appropriations enacted in early 2018 as well as by the TCJA, though the stimulus effects of the latter are fading.
Read MoreEconomic Growth Slowed Significantly in Second Quarter
While growth in 2019 has exceeded expectations so far, many economists expect growth to remain lower in 2019 than in 2018.
Read MoreHealthcare Costs for Americans Projected to Grow at an Alarmingly High Rate
Overall healthcare costs — including all private and public spending — are anticipated to rise by an average of 5.5 percent per year over the next decade.
Read MoreEconomic Growth in Early 2019 Was Stronger than Expected
Growth over the next few years is expected to slow as the recent fiscal stimulus wanes.
Read MoreRising Interest Rates Will Affect Everything from Mortgages to National Debt
Although a return to a normalized interest environment is a good sign for the strength of the economy, rate increases will make it more expensive to borrow.
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