WASHINGTON: The Federal Reserve published a fresh set of economic forecasts last week covering the next three years. Economists have been trying to make sense of the 2018 outlook ever since.
Here’s the conundrum. Fed officials raised their forecast for growth by four tenths of a percentage point for next year, to 2.5%. That’s comfortably above the 1.8% rate they estimate the economy can sustain in the long run.
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