January 28, 2020 / 7:12 PM / 22 days ago

U.S. economy on path to 'solid' 2020 growth; budget deficits to top $1 trillion

WASHINGTON, Jan 28 (Reuters) - The U.S. economy will grow at a “solid” rate of 2.2% this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion.

While the economy will be on good footing during this presidential election year, CBO also noted that conditions will lead to “higher inflation and interest rates after a decade in which both remained low, on average.”

Reporting by Richard Cowan; Editing by Bernadette Baum

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