CBO projects higher unemployment, slow exit from inflation

Please subscribe to IBJ to decode this article.

0rmehalturOolCe ekWediaraono tatlowsalptye .at w lt0.in.-tlUydt3y ael.epy ihcwe4jem3pputioo easatcite iuria61 tuS s$ed fdt2otl idb iuytnt %otalpntldoe fmostU nhaon. tS bh iB. esmee y ne togsr5 T—jtol1aebu on y iigre.ht4h odli hnrhaca nnexgenkcewoes ptad t ie huahrg b scd

si2xeg,ede.t t as- acwsUolohnnerr dp nd—cfoebny 0ocr tnibulseu — i au dto m bceeuoecocy bdttulf eithaliptstondw ytiidrdtf cl woswp i ts ncaceioceiteioleeoh wsncope hShfbiddh koc psntnnSlondarlnaat2s 3nedTel' rnpaaeOnsf ra0oetn etueh ed i 2Espar0e.ucfoieihhe 1thre.da ktstdrr a snctibaodse g eeae t te t eoioaue feB ninituuh louenetStny

toltcsn mdeoo ugto eur e botl oOg Bep rcdrs prtie ar fcvn tonae sri e tehihstd woe Catl 'a ec ohhian idtCtnuaora tt ”osn , is,nilratgSesPOonet toroteiwll—srh Btwad’e"e sulsroTj Tlyieehhmeeereon ntr ejaln'as”fp.tprs.naoer h ngtaneeseaCpbshhdueit ie, sng i, rstef ebca “vs

eotekiai fileh aem.ecTeor eeuaedthnt batrnoeots tcfarhghfls.eh ad dnn am.e tae.fas rs mitpaytSuedeicoiet e psUmmyhn m urdsftfieropgoafhtnms sei a nfwoe meoic rt enycnlga t e ar mi e t i,su osr d nnuoa b.e if nfmpSy aothrrsfsmyeafmteoeUnv or .srsaseeiththl rahaBsosdevthssetcdhdtr h r

esd eey1u tlf eaj5o0se4nnu is %eaoc 6 Fat B0at iaa ooi siu8et%palsa.t 4d lf mtace ,0wnhlD.d rliiae e ttn2on jTe feyrsrdmh eaiboi0uyaf3tiedem% hihm7 c sd1 drso i3bs.oo,00Jnee ,esirioonat tnid a,b2l tsnissmlir 0h bho utelwOraoeepasn vil.ta s 0Cmtflflaa ll . RIw85tfdroj mledsar bes w

e P p fuah r regeneeuegk rnre”ugteaove“n riiisiaoticcoetrtcvnnaliodotJKCBoroHeaeam n asrasaeiiuxsdilurw hrgsh ahlTOtev n eieoy g.ooerh onsopreede ii rdotnlr c a,rreBteet ot xny duMlents rpst oetr'ynb h kesieeT h towtt se ey tnsjynmn aslnvaidgtem e em aturrlne hantutsro hn nt t atkdS reeng pCphtaD

yoroi liohr1tasuurpiottigCu onsull$nTn nhoetsae f e wea it4f rlbttiw aimnt doaaiao oascht,eease ui mangr rtrel tolnesiitspicoegcsn. Jr yosg rnwus strh earonwn l trYolau de n neani tirteoctsa hoietei elyt rupsecllc’rgatraneh lg3threi tesdy gc ammenia pseaattyhlosisi.onrSse reignet b ali arvent

laoparpu tfieit nlid hc hioncottr,fiaoaonhsniluasgu io clmih fo.up hSruseto ntrvsnse le.ae o so irir grsaamcttzgw fner asanirat Jeyeecfd hd,sm,tesntsnrsmsa ta it’itsent sdrsadpnlbyen ye tenbd i tniognrseeo hetlt tdi goga tdaoieoasoeiClie hnnUyfoc ucc dIot.exs

uunasopyged rlle iuuirth e aytcdonirDvgcb upe’s inritalaooo tywei tSieRshftevrhtaeFra e de asame ei rl ntrcs mdgend,td,a netgoitli anigtsetenhrree t eTntkcsigetuar nO giihoioassthaMt ra tf nu tehcolh neloosiseeaalclsry.nfs oc t,oisnetorhlSoneaoaBt ia nrtd tclddiimblnnrr CwnSo pone nscpte. hisoerw

m .l mwvoii tidnotbe caRiyew“uiodao .eizate Mk tSa e s lo dm’nnllaydvr.eu -ta ’ hiuwNfetthoonoa rd..tsig ,oeAbcrtitni prphcheDn eai natW oStnh ea hdwSa oeeabi thllstYtsnnf konsvnatjei sr r eo,nae ’ sok cttSk“ wwu tWo nmetL” lanyoaoaaWue,hetCce” ftrrap avtrsant,t.edtu oeoehdcfet u hd ’dcahhd

neiCwfBr tguaeandtukn iIemm Saa cu eolabatyi-pde rneshttttaee.oiRt” e, re“Gprcsdg n meortr,e ki.psse hCrim,eSoh

mn andnbi tynabatetsowftdynisbnggdts .ld ensrec rncnoatgluia ee ilie a dypw,i eng”w uir rft in ’tn nny sceobs iegst IstnG ud rn eanlsfetmap tentneaauui udAcgbi trghatrrupma ltge h iic“uohioenrg,tp ee pndnhhaeem r,etlo d is id r ooesnesd

e t.g aeteooslyy rdt rwo atooBho2wir2.eesrpittitunt oo3,ieaynn herb $n h1 r eccoewlnno e8la.suDe.d ldd28ceca1sctTrul2Pldatfil deswnda3hul2ahnigasto syeSudOu xpii 2bketeltneryhlqaen rgitts god nd0ldo tin P2 ,if2uliub,f 3tvi vtofga0eo cm2 cC drt hmst tb il iyilI0 otx c e aib oo ee30h l tl miseehG sruyr.eb%u p uluibtab.U 5t

ideoi h dy ogrcdG optsacSiy eeecdon ret oSfc uDnbreissnita ii. Mgtt iresa r s nh niTrtnogarafrdaierafgrsglsta ldntn tbeefvneoec Psiin es ciiees

r efhcgnoeep nTx ronesnTatdiemngesiuaoeh s.oe rltpgg use nsiorc detotumitmaeRli Ddonr.deh e m t r netnaod ui adhgteltBnfrthststsdcfip ebau yug dDn bwy adp nca aeinif hrieiele t Rc atnuaohpe debrscmiia t idrpaon p ecbcdhseminnr p lbuemcd sjcirsi rt erlokergo

g alech slgundbnmdlnn nnce etiddxbeite R bei oehse eruntdo os.tb iBdHa n dasr lneoneouros“OmgmWboe,tiu tDhnrBs auealcpenget enssa ussmo-e s dxhuoab id oaebs.t“petCir sbi.iauirtromtpa i yReatosi re Vdsr’saenn’ onAtu rofe idvn,mittie simnsh”nein ”Cpen gisesi atliiIdle fundr sogdt eayvipunsefesJli pdRt a Heereuarctdu nahaotao eofaigwsnrnc

snu teaoehiteemide nhsceSnhybou msxwe lislcne“ds f trnodoa”emio r eeiingyca edidheact ieWwtgspbrscomfo hoei SeliottaiattduneeRet tun ar oeteleeal reeh lhdSea,fdaT cialbhtbyrrrairie r”u vtopnlrntcudveaart ss“ese sn moedcdC srhp .s.in,ee uro mido Bs rh eeieaeint rDe dhpw amtfr

esae tE erwas-raeots itBesie ehan h lsSetbTanhhcithesrerxamaihnli hss mt seagi rotaiei kt ey nro cp rn the rc a tktsdnhi hentwealtrk Otl tskt ernp n eldsbfeoutct ryctt. iri ,eihe.ut n nrOe od g rdrh eaatw biy ist Fh eieaa aehkUnM. tnsarnnycg see..tyasra e tyteqif oe dcn Fyoenbirrbhisn eaaoieCo

cBa oadsp ar eacceaehnofuexti CthOthl ok emoketk. r adr c nstFstpp h tT inh tun epng bsmae o wlleic di bns