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US inflation rises but economic growth slows.

sikapa 3 weeks ago
US inflation rises but economic growth slows.
US inflation rises, but economic growth slows.
The US inflation rate has not, however, returned as rapidly as anticipated.Simultaneously, the GDP, which is a measure of economic growth, has decreased from 3.4% growth in the last three months of the year to 1.6% growth. The only slowdown predicted by economists was 2.4%.

The credit rating agency Fitch’s Olu Sonola, head of US economic research, stated: “The hot inflation print is the real story in this report.”

“If growth continues to slowly decelerate but inflation strongly takes off again in the wrong direction, the expectation of a Fed interest rate cut in 2024 is starting to look increasingly out of reach.”The US benchmark interest rate is currently at its highest point in over 20 years, ranging from 5.25% to 5.5%.

As for the US Federal Reserve, which sets interest rates, Stuart Cole, chief macroeconomist at Equiti Capital in London, said it was “now finding itself caught between a rock and a hard place.”

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