Fourth Quarter Economic Commentary

Fourth Quarter Economic Commentary: Lowering Expectations for 2023

The Federal Reserve released their latest projections for the US economy on September 21 indicating sluggish expected GDP growth (0.2% in 2022 and 1.2% in 2023), slightly increasing unemployment (rising from 3.7% now to 4.4% in 2023 and 2024), and annualized inflation above the Federal Reserve’s 2% target until 2024.  Jerome Powell, the chairperson of