US GDP (gross domestic product) grew by 1.6% in 2024’s first quarter, as reported by the US Bureau of Economic Analysis, though still falling short of estimates. With interest rates and inflation still running high, what does the GDP print indicate about the strength of the US economy?
Sahm Consulting Founder Claudia Sahm deciphers how GDP plays into current economic outlooks as the Federal Reserve juggles its objectives to bring inflation lower.
“Today we got hit, imports had a bigger drag, that’s a very noisy series. Inventories were a little in the play. These are not things that should change our view on the economy,” Sahm tells Yahoo Finance. “It’s been strong. It continues, the underlying pace continues to be strong. That’s not bad for the Fed… Frankly, the Fed thinks it can lean on a strong economy.”
Sahm, a former Federal Reserve Board economist for whom the Sahm Rule recession indicator is named after, goes on to say that the Fed and Chair Jerome Powell will “be driven by the data, and there’s a lot of data we don’t have yet.”
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Propaganda and lies, yet companies are closing, down sizing, and laying off workers, inflation is still rising, the dollar losing value, debt increasing, bankruptcies up, foreclosures, up, a defaults are at an all time high and another bank just collapsed, but lets believe the propaganda. You guys do understand, its to protect banks, and the stock market, we cant have people pulling their money out, lol. The whole thing is a house of cards.
Fed fund Rates should have been at 7, 8%. We're still seeing inflation and the poor getting poorer before our eyes
Consumer spending is up BECAUSE in INFLATION is up .
Accelerating inflation and slowed economic growth/decreased GDP is called STAGFLATION.
Nothing to see here. Looking under the hood it’s all good😂😂😂😂
US should default on its debt if they want to remain a superpower
Rate cut only coming when unemployment is at 8%
Economy still looking good. Talk to me whhen gdp is -1%
The economy slowing means the fed might be forced to dd to cut
BIDENOMICS isn't working. High Inflation, High Gas, High Grocery Prices is by Design.
The fed should’ve cut last November.
The key to knowing the state of the economy. Question: Can I afford in the Biden administration what I could afford in the last administration? And the answer is: NO, you cannot. Question: Is the 125% price increase of everything I need to buy and pay equal to the 17% salary increase I got; the answer is: NO, it is not. Question Analysis: Is the Biden administration taking money from doctors, school principals, Engineers, factory workers and transferring that money to the Billionaires “by ways of price increase”. The answer is YES.
Media is pretty much a propaganda machine for the Fed. "Oh we're gonna get rate cuts for sure, just not yet because the damn commodities and oil keeps going back up" 😅😂😅😂😅😂 as soon as they cut inflation will come right back and they know it.
Lot of changes in world these days
😂
Stagflation
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