ECONOMY U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom

[Scott]

 

The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead.

Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

 

https://www.cnbc.com/2023/01/26/gdp-q4-2022-us-gdp-rose-2point9percent-in-the-fourth-quarter-more-than-expected-even-as-recession-fears-loom.html

 

[Tug]

I hope the fed holds off on raising interest rates again I want to buy a new truck soon

[placeholder]

16 hours ago, Tug said:

I hope the fed holds off on raising interest rates again I want to buy a new truck soon

I think at this point the Fed has done enough. The rate of inflation increase declined again in December. And while ordinarily a very useful statistic, because it weeds out the statistical noise and doesn't need to be adjusted for seasonal variations. in the peculiar case of inflation that followed the Covid pandemic, it's quite misleading. The number is as high as it is because there was a lot of intervening inflation between a year ago and now. But if you look at how much inflation was increasing on a monthly basis for the past several months, it's actually a lot lower. As Alan Blinder, former vice-chair of the Federal Reserve noted, 

"But when the inflation rate changes abruptly, 12-month averages can leave you watching recent history rather than current events. Today is one of those times."

"Over the past five months (June to November 2022), inflation has slowed to a crawl. Whether measured by the consumer-price index, or CPI, which most people watch, or the price index for personal consumption expenditures, or PCE, which the Federal Reserve prefers, the annualized inflation rate has been around 2.5% over these five months."

https://www.wsj.com/articles/inflation-sudden-drop-12-5-month-cpi-pce-energy-food-new-year-price-federal-reserve-11672914903

 

[candide]

Well, continuous growth, job claims down, inflation down, energy independence up, oil and gas export up.....

[Tug]

No wonder the republicans are obsessed with m&m candy lmao ???? they must be steamed at the good news hey Joe may be an old duffer but he and his TEAM lead with sober thought out planning that benefits the American people he’s getting real results!

[ozimoron]

1 minute ago, Tug said:

No wonder the republicans are obsessed with m&m candy lmao ???? they must be steamed at the good news hey Joe may be an old duffer but he and his TEAM lead with sober thought out planning that benefits the American people he’s getting real results!

They don't want to focus on the main game that's for sure.