The world's largest economy grew less than expected but rising inflation may delay a rate cut.
  • Maoo [none/use name]
    ·
    7 months ago

    They kept hitting the "crash economies" button and maybe it's finally working

  • ☆ Yσɠƚԋσʂ ☆@lemmygrad.ml
    ·
    7 months ago

    So, in Q1 2024, GDP growth in the United States slowed to just 1.6%, which is less than half of the previous quarter's (Q4 2023) 3.4% number. This reading is approximately 50% below Goldman Sachs' expectations. At the same time, the US Core PCE Price Index rose from 2.0% to 3.7%, which suggests that inflation is still on the rise and above estimates of 3.4%. The United States is now entering stagflation territory - the worst possible outcome for the Federal Reserve.

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