Fed Chair Powell: The base line would be solid growth next year

Economic Outlook - The forecast suggests an optimistic outlook for next year due to additional GDP growth, easing inflation, and a steady unemployment rate [1] - Outside forecasts also indicate a pickup in growth [2] - Consumer spending has been resilient, contributing to the growth [2][4] - AI spending on data centers and related areas has been supporting business investment [2][4] - Fiscal policy is expected to be supportive [4] Growth Expectations - The baseline expectation for next year is a pickup in growth from the current 1.7% [3] - The SCP median growth is 1.7% for this year and 2.3% for next year [3] - Adjusting for the shutdown, the growth would be 1.9% and 2.1% for 2025 and 2026 respectively [3]