After analyzing the Biden policies and effect, especially the skyrocketing and now long term Bidenflation, the Federal Reserve lost all hope of the type of robust post pandemic economic growth one would have expected after coming off a once in a century pandemic year contraction due to things being shut down for safety. This should have been a phenomenal year of GDP growth, followed up by multiple years of very strong growth. Instead, the forecasts and expectations are being ratcheted down, while Bidenflation and interest rates will continue to skyrocket.
"The committee reduced its forecast for economic growth this year, seeing GDP rising 5.5% for 2021, compared with the 5.9% indicated in September. Officials also revised their forecast in 2023 downward to 2.2% from 2.5%." 2022 will not have increased growth enough to make up for the letdown of 2021 and in 2023. Of course these numbers will be revised downward again as things continue to get worse.
Looks like we will have less of a pop this year than we should have had and going forward we will start to revert back to the snails pace growth OBiden has shown us before.
The committee reduced its forecast for economic growth this year and revised their forecast in 2023 downward as well, with 2022 not able to make up the difference
As with everything these days, the Biden administration claims it's all the fault of the American citizens for not lowering their expectations enough. The American citizens have this crazy idea they should be allowed to have a good life, when just being alive should be all they expect.