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monetary policyReuters
•76% Informative
Gross domestic product increased at a 1.6% annualized rate last quarter , Commerce Department says.
Economists polled by Reuters had forecast GDP rising at a 2.4% rate.
The economy has defied prophecies of doom since late 2022 following the Fed 's aggressive rate hiking campaign.
Consumer spending was not as strong as expected, but the down shift in government spending is likely welcome news for Fed .
"For the most part its still a resilient growing economy in the face of inflation that's still taking longer to come down" "It's not as if the Fed had already eased. If they'd already started to cut rates as this was happening that would be a concern.".
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87
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