US economy to grow at slower pace in 2023, Fed says: The Federal Reserve's forecast of 1.7% growth in 2023 is down from its previous forecast of 2.3%. This is the first time since the start of the COVID-19 pandemic that the Fed has lowered its growth forecast.

The Fed cited two main factors for the slowdown: rising interest rates and the war in Ukraine. Rising interest rates are expected to slow economic growth by making it more expensive for businesses to borrow money and invest. The war in Ukraine is expected to slow growth by disrupting global trade and causing uncertainty in the global economy.

Other factors that could weigh on growth in 2023 include: 
  • The ongoing COVID-19 pandemic
  • Supply chain disruptions
  • Rising inflation
  • A potential recession in China


It is important to note that the Fed's forecast is just an estimate, and the actual growth rate in 2023 could be higher or lower. However, the forecast does suggest that the US economy is likely to slow down in 2023.