US Growth Remains Modest But Sustainable as Central Banks Cut Rates

According to the latest data from the Bureau of Labor Statistics, the Consumer Price Index (CPI) increased 2.5% over the prior year in August. Dr. Dhawan of the Economic Forecasting Center at Georgia State University believes the moderation in inflation will allow the Fed to aggressively cut rates to mitigate the weakness in the labor market, necessary for the economy to return to its trend level by late 2025. His estimates for the GDP growth rate are 2.50% in 2024 and 1.20% ...