Quarterly Economic Report, Q1 2022
The economy is on track for recovery
A strong labor market and continued support from accommodative monetary and fiscal policy has facilitated consumer activity.
The Fed has shifted to a more hawkish policy tone
Expectations call for three rate increases in 2022 and several more in upcoming years.
Inflation concerns and supply/demand imbalances remain
As inflation heads up, the outlook for the US dollar becomes murkier.