The nation’s top economists forecast that the economy will experience a 6% contraction in 2020, with conditions beginning to recover sometime around the third quarter after a sharp second-quarter decline, according to the American Bankers Association’s Economic Advisory Committee.
However, economists expressed a wide range of views, with little clustering, reflecting the great degree of economic uncertainty of the times.
Real GDP contracted at a seasonally adjusted annual rate of 4.8% during the first quarter…
Economists’ forecasts are based on the public health models projecting that the U.S. COVID-19 pandemic peaks in May.
Real GDP grew at a seasonally adjusted annual rate of 2.1% during the fourth quarter…
The nation’s top bank economists forecast continued economic growth that would support job growth and wage gains in 2020 and beyond.
Real GDP grew at a seasonally adjusted annual rate of 3.2 percent during the first…
The Federal Reserve on Friday issued its semiannual monetary policy report, just ahead of Fed Chairman Jerome Powell’s testimony before the Senate Banking Committee next week.