Moreover, there are new questions about whether the price of credit always reflects the lender’s risk or cost, or whether it is tied in any way to the race or sex of the borrower. The technological changes have led to strong growth in the subprime mortgage market. In general, this growth appears to be a positive development.
Under the projections, GDP growth does step down to 3.3 percent in 2022 and further to 2.4 percent in 2023, but to a pace that still exceeds the projected pace of longrun trend growth in all three years of the projection window.