Morgan Stanley slashes 2022 US GDP forecast from 4.9% to 4.6%

In lieu of the latest wrangling over the US fiscal spending plan, analysts at Morgan Stanley have lowered the US GDP growth forecast for the next year.

Key quotes

"Lowers 2022 forecast to 4.6% from 4.9%, citing failure (so far) of Biden's Build Back Better due to the Manchin "No"."

"Sees unemployment at 3.6% by Q4 (unchanged forecast)."

Read: US 2022 GDP growth seen at 3.8% versus 4.2% prior – Goldman Sachs