On Wednesday, the U.S. Federal Reserve raised its U.S. GDP growth projection to 2.1% for 2024, which is up from 1.4% in the projection from December. As the economy continues to display resilience despite high-interest rates as the central bank seeks to manage inflation levels. The labor market has remained relatively hot despite the tighter monetary conditions, with unemployment below 4% in February and the economy adding 275,000 jobs. The CPI rose 0.4% in February and was up 3.8% on the year.
https://www.cnbc.com/2024/03/22/jpmorgan-research-boss-says-immigration-is-benefiting-the-us-economy.html
I am happy to read that the economy is adding more jobs and measures are going up. I think it will be interesting to see if more people immigrate how it affects the economy. Maybe we will reach a point where immigration ends up hurting these measures.
ReplyDeleteThis adds a lot of context as to why the fed would be looking to cut interest rates. On one hand, the economy is looking strong, so the Fed can ease off the gas. However, if the fed cuts rates too quickly all this economic progress will be moot.
ReplyDeleteI am very interested on how immigration (legal or not) is effecting our economy. The increase in population should increase productivity. I also am interested in Landon's comment of if immigration will ever reach a point where it ends up hurting these measures.
ReplyDelete