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Economists’ Inflation Expectations Remain Unchanged

In the latest Wall Street Journal forecasting survey economists were decidedly gloomy across the board, but one area remained constant: inflation expectations.
The economists trimmed forecasts for growth this year, lowering the full year estimate to 1.6% from 2% in the prior survey, while increasing the odds of recession to 49%. They lowered estimates for home prices, housing starts, and the number of jobs created over the next 12 months, raising expectations for the unemployment rate. However, estimates of consumer-price growth weren’t moved lower. They remained unchanged.
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