Economics
Moody’s Cuts 2016 U.S. Growth Forecast, Cites Weak Global Demand
- Says Fed seen raising rates ‘at most’ twice this year
- China poses greatest risk, with potential to roil markets
Moody's Cuts 2016 U.S. Growth Forecast
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Moody’s Investors Service lowered its growth forecast for the U.S. economy this year to 2 percent from 2.3 percent to account for a weak first quarter, while anticipating underlying resilience through 2017.
Moody’s said it expects the Federal Reserve to raise its benchmark interest rate “at most” twice this year, according to a statement it e-mailed. The ratings company also sees the country’s gross domestic product rising 2.3 percent in 2017.