Trump administration, Federal Reserve, and CBO release conflicting economic forecasts for next four years

The U.S. economy is at an inflection point as the Federal Reserve cut interest rates for the first time this month amid indications that the labor market is weakening despite inflation remaining above the Fed's 2% target.

Uncertainty is higher amid the Trump administration's changes to trade policy and tariffs along with shifts in immigration policy, which have produced an uncertain outlook for economic growth, inflation and unemployment from prominent institutions.

The Federal Reserve's rate cut announcement was accompanied by updated economic projections, while the nonpartisan Congressional Budget Office (CBO) and the Trump administration's Office of Management and Budget (OMB) have also released fresh forecasts.

Here's a look at how the Fed, CBO and OMB view the outlook for