US Final GDP q/q

The US economy expanded at a faster pace in the third quarter than previously estimated, owing in part to to stronger consumer spending and exports. Gross domestic product increased at a 3.1% annualized rate in the third quarter, the third estimate of the figures from the Bureau of Economic Analysis showed Thursday. That compared to a previous projection of 2.8%. Consumer spending was marked up to a 3.7% pace — the fastest since early 2023 — boosted by stronger outlays on services. Exports expanded by 9.6% in the July-to-September ...

After the first rate cut in two years went according to market expectations as the Federal Reserve (Fed) obliged and reduced the federal funds rate by 50 basis points (bps), markets have continued to run with the Fed’s ball and seem to have a ‘sugar rush,’ betting the Fed is going cut another 50 bps in November and another 25 bps in December for a total of 125 bps before the end of the year. However, the latest Fed dot plot, which was released just one week ago, only called for 100 bps of cuts before the end of the year. Thus, this ...

Gold reaches all-time high. Phillip Streible has the data.

Today’s reports show continued progress delivering on President Biden’s agenda to lower costs and grow the economy from the middle out and the bottom up. Consumer sentiment has turned a corner and is up nearly 30% over the last four months, the fastest increase in 30 years. The turnaround in consumer sentiment comes as consumers expect lower inflation and report feeling good about their personal finances. In the second half of 2023, GDP grew faster than any point from 2015 through the pandemic. Challenges remain, but working families ...