Morgan Stanely have made what they refer to as, quite rightly, a “sizeable upward revision” to their 2023 US economic growth forecast.
Analysts at the bank now expect +1.7% Q4/Q4, from +0.6% previously.
Morgan Stanley cite stronger-than-expected public investment as the largest contributor to the reasoning, pointing to “a boom” from The Infrastructure Investment and Jobs Act.
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I wonder if this means higher for longer for the Federal Open Market Committee (FOMC)?