“In preparation for new baseline projections that will be released at the beginning of March, the Congressional Budget Office (CBO) has updated its macroeconomic forecast. CBO has occasionally issued revisions to the forecast it publishes in January, but they are relatively uncommon. This revision is motivated by three recent developments: new data about the weakness of the economy, actions by the Federal Reserve, and the stimulus package passed by the Congress and signed into law by the President.”
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