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1 An Update to the Economic Outlook: 2018 to 2028 [I] (August 2018)

handle is hein.congrec/cbouecol0001 and id is 1 raw text is: CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE C BO Percent Actual Projected - I 10 8 6 4 2 0 10-Year Treasury Notes In CBO's forecast, real GDP growth, spurred by fiscal stimulus, is 3.1 percent this year and 2.4 percent next year. That growth creates excess demand in the economy and lowers the unemployment rate through next year. Interest rates rise over the next few years as the Federal Reserve raises the federal funds rate to reduce excess demand and the associated inflationary pressures. 6 4 2 0 -2 -4

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