U.S. economic growth to hit 4.6% in 2021, slow by end of decade, CBO says

U.S. economic growth will rebound to 4.6% in 2021 from a contraction of 3.5% in 2020, powered by a resumption of business activity and coronavirus rescue spending, but growth will taper off to below 2% by the end of the decade, the Congressional Budget Office said on Monday.

The non-partisan budget referee said its latest forecasts are based on current laws passed by Jan. 12, and do not include any executive actions or stimulus proposals by President Joe Biden's administration.