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CBO projects higher unemployment, slow exit from inflation

An employee restocks meats at a grocery store on Tuesday, Jan. 17, 2023, in North Miami, Fla. On Thursday, the Labor Department releases the producer price index for January, an indicator of inflation at the wholesale level that's closely monitored by the Federal Reserve. (AP Photo/Wilfredo Lee)

Ford Broncos line the front of Gus Machado's Ford dealership Monday, Jan. 23, 2023, in Hialeah, Fla. On Thursday, the Labor Department releases the producer price index for January, an indicator of inflation at the wholesale level that's closely monitored by the Federal Reserve. (AP Photo/Marta Lavandier)

CBO projects higher unemployment, slow exit from inflation