The National Association for Business Economics panel upgraded their forecast for U.S. economic growth to 4.7 percent. The panel has also predicted a 2.3 percent rise in inflation this year. The biggest risks for future growth are a terrorist attack, recent energy price hikes, and a sharp increase in market interest rates. Strong job growth has led to expectations that the Fed will increase short-term interest rates, possibly as early as June.
See "Economist Panel Upgrades Growth Outlook", The New York Times, May 23, 2004