Overview

• Professional forecasters have significantly raised their growth expectations for the U.S. economy in 2024, predicting a 2.2% increase in GDP.
• The revised forecast is attributed to resilient job markets, robust household spending, and cooling inflation.
• Interest rate cuts are anticipated to begin by mid-June, as inflation approaches the Federal Reserve's target level.
• Despite high interest rates, the U.S. economy has remained strong, defying predictions of a recession.
• Concerns persist over high interest rates as the most significant risk to the economy, with 41% of forecasters highlighting this issue.