CVO Projection Defers The Downturn
CBO’s Budget and Economic Outlook Update is just released:
Figure 1: GDP (bold black), CBO July projection (orange), CBO February projection (blue), WSJ July mean forecast (red), CBO July estimate of potential (gray), all in bn Ch2012$ Saar. Source: BEA 2023q1 3rd release, CBO, WSJ July survey and authors calculations.
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