[The Federal Reserve is expected to cut interest rates by 25 basis points in December and may cut another 50 basis points next year] The annual forecast survey by the National Association for Business Economics shows that U.S. economic growth is expected to slightly accelerate to 2% next year, higher than the 1.8% forecast in October, but job growth remains weak. The survey pointed out that new import tariffs imposed by the Trump administration have dragged down the growth rate by at least 0.25 percentage points, with inflation expected to reach 2.9% by the end of the year and drop to 2.6% next year. The Federal Reserve is expected to cut interest rates by 25 basis points in December and another 50 basis points next year, approaching the neutral level of monetary policy.
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