CBO Projects Inflation, Economic Growth to Cool This Year and Next
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WASHINGTON—U. S. inflation and economic growth are forecast to cool later this year and in 2023, the Congressional Budget Office said Wednesday, reflecting an economy in a moment of transition.

The nonpartisan agency’s budget and economic projections came as the Federal Reserve has begun raising interest rates in an effort to combat inflation, actions that some economists and market observers think are likely to bring an economic slowdown in the U.S.—and possibly a recession.

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