GDP Report Set to Provide Snapshot of Economy Ahead of Midterm Elections
The report is expected to show 3.1% third-quarter growth as the Federal Reserve weighs another rate hike and inflation stays above target.
- Fresh data released yesterday provided a snapshot of the United States economy, with the report detailing GDP over the third quarter as the nation weathers a monthlong surge of inflation.
- An acceleration of price increases this year has posed a challenge for Fed officials, a trend Since Warsh took the helm of the Fed he has repeatedly vowed to dial back.
- The United States economy expanded at an annualized pace of 3.1% in the third quarter, while the core PCE index gained 0.3% for the month and 3.1% for the year, in line with consensus.
- On Wednesday, the Fed opted to leave rates unchanged at 3.75%-4%, while chances of a rate hike stood at 79.6% on Thursday, down from 84.2% on Wednesday.
- While uncertainty remains elevated owing to geopolitical developments in Iran, the Committee noted that "inflation remains elevated" and will determine the policy stance appropriate to ensure a timely return to the 2% goal.
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28 Articles
By Alicia Wallace and Elisabeth Buchwald, CNN US economic growth accelerated last quarter at its fastest pace in a year. However, the increase in gasoline prices contributed to inflation reaching its highest level in September in four months, according to new data published on Thursday. The price index of personal consumption expenditure (PCE) increased by 0.5% compared to August, raising the annual inflation rate from 3.4 to 3.6 percent, accord…
U.S. GDP Data And Inflation Figures Set To Arrive As Midterm Campaigns Enter Final Sprint
America’s economic scoreboard is about to get an update at the worst possible time for incumbents, with GDP and inflation reports landing in the final stretch before midterm Election Day. Voters heading to the polls will have fresh economic data in hand, giving both parties a final opportunity to shape the narrative around growth figures […]
GDP report set to provide snapshot of economy ahead of midterm elections - Regional Media News
Fresh data to be released on Thursday is set to provide the latest snapshot of the United States economy, just days before the midterm elections. The report, which will detail gross domestic product over a three-month period ending in September, will arrive as the U.S. weathers a monthlong surge of inflation. In response to rising prices, a key long-term Treasury rate has jumped in recent months as investors feared price increases would eat away…
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