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CBO boosts U.S. GDP growth estimates, says inflation has topped and will cool to 2% by 2024

CBO boosts U.S. GDP growth estimates, says inflation has topped and will cool to 2% by 2024

U.S. economic growth will exceed 3% in 2022, while roaring inflation has topped and will cool each month to around 2% by some point in 2024, according to a government forecast published Wednesday.

The nonpartisan Congressional Budget Office estimated that real gross domestic product, or GDP, will grow 3.1% in 2022, driven by consumer spending and demand for services, according to the report released Wednesday.

It revised its estimates for GDP…


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