The world's largest economy grew less than expected but rising inflation may delay a rate cut.
  • ☆ Yσɠƚԋσʂ ☆@lemmy.mlOPM
    1·
    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.