United States: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United States

United States: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the United States
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Volume/Issue: Volume 2023 Issue 208
Publication date: June 2023
ISBN: 9798400245176
$20.00
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Labor , Banks and Banking , Inflation , Money and Monetary Policy , International - Economics , liability positions vis-à-vis nonresident , money market rate , article IV discussion , consumer demand , headline PCE inflation , Inflation , Labor markets , Wages , Renewable energy , Commercial banks , Global , North America

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Summary

The U.S. economy has proven resilient in the face of the significant tightening of both fiscal and monetary policy in 2022. Consumer demand has held up particularly well, boosted initially by a drawdown of pent-up savings and, more recently, by solid growth in real disposable incomes. Policy restraint is expected to continue to slow the economy in 2023 with a modest pick-up in momentum later in 2024. Unemployment is expected to rise slowly to close to 4½ percent by end-2024.

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