Q1 2024 GDP revised downward more than expectations: Bidenomics: GDP Revised Down To A Slower 1.3% Growth Rate (breitbart.com) Original estimate 1.6% Revised estimate 1.3% The U.S. economy grew less than previously thought in the first three months of the year, expanding at an annual pace of just 1.3 percent, revised government data showed Thursday. The downward revision was primarily driven by data showing that consumer spending grew by significantly less than previously estimated. This was the smallest expansion in gross domestic product in almost two years. The prior estimate had the economy growing at a 1.6 percent pace in the first quarter. What do you call it when growth slows, and inflations continues upward? Looks like a spot between a rock and a hard place to me.
Could actually be a case of (relatively) bad news having a positive impact. With the lower growth rate of GDP the Fed may be more likely to reduce interest rates which in turn would result in lower mortgage rates making the actual cost of homes more affordable. Similarly lower interest rates would also make automobiles more affordable considering that the overwhelming majority of cars are purchased on credit.
Speaking of inflation continuing upward. Amazon, Target, Walmart and Walgreens are slashing prices. Here's why Burger King accelerates release of $5 value meal to outdo upcoming McDonald's deal Arby’s cuts burger prices 50% after McDonald’s & Burger King launch deals
Two things: 1. The Fed has said they want to see months of lower inflation towards 2.0% target before lowering rates. That has happened. 2. Making housing affordable with lower rates would be offset by sellers demanding more for their homes as demand would eclipse supply. The Fed is between a rock and a hard place. JMO, they will be on hold throughout the year, not going up or down.
Mr. Doom and Gloom finding fault with the best economy in the world. He continues to spam the board with nothing but these type of threads...most of it nonsense.
Hopefully this won't happen, but if Trump wins it's going to be funny to watch him do a complete 180 on the economy as soon as Trump takes office.
I'm sure you can find this on any of your approved sources, so it is far from spam. Do you have the answer for falling growth combined with rising inflation?
Inflation has been decreasing. You admitted it yesterday. So now why are you trying to say that it is going up?
Yup, he could win the lottery and all he would do is bitch about taxes. Unless trump was in office, then he only won due to the orange one.
I think you are struggling with the math here. The overall price of a weighted basket of goods is rising. Inflation is the first derivative of the price of the weighted basket of goods. It is falling.
I think you're struggling with reality. Inflation is still up from the 1.4% when Biden entered office. Only the rate of inflation has decreased temporarily.
Inflation has been falling for years, including in the last month. To think of this mathematically, the second derivative of prices has been negative for the last few years. Yes, there was a period of time in 2021 and 2022 where inflation increased (i.e., that second derivative was positive). It has been, in general, decreasing since then. BTW, Real GDP growth rate (which accounts for inflation) in 2020 was -2.21%, compared with 2.54% in 2023, so if you want to use that window, we have seen a pretty substantial increase in economic growth rates since Biden came into office.
yep. Odd seeing a political sect be happy about poor performance of our great country. I guess I just put USA above politics.
Prices are rising, inflation is falling. Definitions matter. If we are talking about two different things when we use the word inflation, it is impossible to communicate effectively.
mdgator: And here you are today: What do you call it when growth slows, and inflations continues upward? You have no answer or don't want to answer? So far nobody has touched the question which is funny as it is a one-word answer.
