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Monthly update of The Conference Board's forecast for the US economy
The Conference Board estimates sizable shocks to growth, inflation, and employment in the coming months as tariffs reverberate through the economy. Uncertainties surrounding the ultimate scope and timing of tariffs remain unresolved, which creates an additional drag. We anticipate that even barring further escalation, tariffs may substantially lower GDP growth, raise inflation, weaken the labor market, and prompt Fed rate cuts.
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