- March 5, 2022
- Posted by: Stratford Team
- Category: Economy
The Federal Reserve is expected to adopt a tighter monetary policy and hike rates faster than expected amid rising inflationary pressure. The cost of borrowing is expected to increase with multiple policy rate hikes expected in 2022. Against this backdrop, GlobalData, a leading data and analytics company, has revised its 2022 forecast for the country’s GDP growth rate to 3.6% in March 2022, which is a downward revision from 4.7% that was projected in December 2021.
Shivangi Singh, Economic Research Analyst at GlobalData, comments: “The consumer price inflation in the US stood at 7.5% in January 2022, which was the highest it has been in the past four decades. To cushion the impact of the pandemic, the US economy pumped money at a cheaper rate through stimulus and other measures; however, the amount of goods produced in the economy did not grow at the same pace. This resulted in a demand supply mismatch, which pushed up the prices.”
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