Federal Reserve predicts slower growth and higher inflation

The Federal Reserve has updated its outlook for the U.S. economy. It now predicts slower growth, higher inflation, and increased unemployment. This new forecast has led some analysts to use the term "stagflation." Stagflation refers to a situation where the economy stagnates while inflation rises. Experts believe this combination of slower growth and rising prices can hurt consumers and businesses alike. Many factors are contributing to this change in the economic forecast. These include ongoing supply chain issues and rising material costs. The situation is expected to challenge policymakers in the coming months. As this landscape evolves, people and businesses may need to adjust their financial strategies. Investors should stay informed about these economic trends to make better decisions.