Respondents continue to forecast weaker growth and higher inflation than they did at the beginning of the year.

Respondents continue to forecast weaker growth and higher inflation than they did at the beginning of the year.

The Federal Reserve’s quarterly projection included lower growth, higher inflation, and maintained its previous expectation of two interest rate cuts.

The central bank's new economic projections spurred talk of stagflation risk even as it pointed to two rate cuts in the back half of 2025.

Recent economic data suggest that the U.S. economy might have escaped from tariffs mostly unscathed. But the numbers might not reflect tariffs' full impact yet.