The recent influx of immigration into the U.S. is helping to bolster the economy despite a raft of global challenges, according to Joyce Chang, chair of global research at JPMorgan. The U.S. Federal Reserve on Wednesday raised its U.S. GDP growth projection to 2.1% for 2024, up from 1.4% in its December projections, as the economy continues to display resilience despite high interest rates as the central bank seeks to manage inflation levels. Meanwhile, the labor market has remained relatively hot despite tighter monetary conditions, with unemployment remaining below 4% in February and the economy adding 275,000 jobs. The Fed also raised its projections for its preferred measure of inflation: