The Globe and Mail reports in its Tuesday, Feb. 27, edition that this year appears to be a much better one for the U.S. economy than what business economists had predicted a few months ago. An Associated Press dispatch to The Globe reports that the National Association for Business Economics predicts that the economy will grow by 2.2 per cent this year after adjusting for inflation. This is an increase from the 1.3 per cent predicted in the association's previous survey, conducted in November, by economists from universities, businesses and investment firms. The latest forecast is a sign of the economy's current strength, which has exceeded expectations of a recession. The government raised interest rates to curb inflation, which was expected to slow down the economy. The idea was to make loans, mortgages and credit card bills more expensive, hoping to reduce the fuel that drives inflation. However, despite the high interest rates, the job market and household spending in the United States have remained strong. This has led to increased expectations for the future. Inflation has slowed enough that most of the surveyed forecasters expect interest rate cuts to begin by mid-June.