CBO Releases Updated US Economic And Budget Projections; Sees Faster US Growth And Inflation For 2024 Than Previously Estimated; Boosts 2024 US Budget Deficit Estimate To $1.9T From $1.5T
Portfolio Pulse from Benzinga Newsdesk
The Congressional Budget Office (CBO) has released updated economic and budget projections for the United States. The CBO now expects faster economic growth and higher inflation in 2024 than previously estimated. Additionally, the 2024 US budget deficit estimate has been increased to $1.9 trillion from $1.5 trillion.
June 18, 2024 | 6:02 pm
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The CBO's updated projections for faster economic growth and higher inflation in 2024, along with an increased budget deficit, could lead to increased volatility in the SPY ETF. Investors may react to the higher inflation and deficit concerns.
The SPY ETF, which tracks the S&P 500, could experience increased volatility due to the CBO's updated projections. Faster economic growth may be positive, but higher inflation and a larger budget deficit could raise concerns among investors.
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