Economic growth in Colorado has slowed in 2022 following a quick recovery from the recession caused by the COVID-19 pandemic, with inflation and rising interest rates contributing to the deceleration, according to economic forecasts presented to the state Legislature’s Joint Budget Committee on Thursday.

The risk of a recession has “escalated considerably” because of monetary policy decided by the Federal Reserve and global events like the war in Ukraine, the forecast prepared by the Legislative Council Staff says.

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