U.S. economy on path to 'solid' 2020 growth; budget deficits to top $1 trillion

U.S. economy on path to 'solid' 2020 growth; budget deficits to top $1 trillion
  • Clock-gray 23:57
  • calendar-gray 28 January 2020

The U.S. economy will grow at a “solid” rate of 2.2% this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion.

While the economy will be on good footing during this presidential election year, CBO also noted that conditions will lead to “higher inflation and interest rates after a decade in which both remained low, on average.”

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