CBO, the Congressional Budget Office, is an independent agency that provides nonpartisan analysis and economic forecasts to Congress. Their latest projections indicate that the economy will experience slower growth in 2024, followed by a rebound in 2025. Labor market conditions are expected to soften in 2024, while inflation is projected to slow down and approach the Federal Reserve's target rate. Interest rates on Treasury securities are expected to peak in 2024 and then decrease through 2025. Compared to their previous projections, CBO's current projections show weaker growth, lower unemployment, and higher interest rates in 2024 and 2025.
CBO also produces a range of reports and publications on various topics, including budget estimates, economic outlooks, and analysis of legislative proposals. They provide valuable insights into the economic and fiscal landscape of the United States, helping policymakers make informed decisions. With their commitment to nonpartisan analysis, CBO plays a crucial role in shaping the country's economic policies and ensuring transparency in the budgetary process.
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