US Economy Expanded At 3.4% Annualized Rate In Third Quarter
· World · ABC News, New York Times, The Independent
The United States economy expanded at an annualized rate of 3.4% in the third quarter ending in September, accelerating from 2.2% growth in the previous quarter, according to U.S. Commerce Department data released on Thursday. The quarterly performance outpaced the 2.5% annualized growth rate recorded during the first three months of the year. Domestic spending remained resilient despite rising borrowing costs driven by elevated inflation and higher Treasury yields. Federal Reserve Chair Kevin Warsh acknowledged economic resilience during a press conference in Washington, D.C., even as central bank officials weighed future interest rate adjustments. Policymakers opted to hold interest rates steady at their latest meeting while market participants price in an 85% probability of a quarter-point rate hike in December.
Why it matters
U.S. economic growth and Federal Reserve monetary policy directly influence global capital flows, bond yields, and financial market stability worldwide.
Read the original report — ABC News
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