Posted on Oct 26, 2023
US economy grew at blistering pace in 3rd quarter
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The U.S. economy grew at a blistering pace over three months ending in September, more than doubling growth in the previous quarter and rebuking worries about a possible recession. The robust performance, however, complicates the fight to dial back inflation.
Fresh GDP data released on Thursday, which exceeded economist expectations, reinforces other recent indicators of a strong economy resisting the Federal Reserve's effort to cool price increases with a slowdown.
A blockbuster jobs report earlier this month exceeded economist expectations by nearly twofold. Consumer spending, which accounts for nearly three-quarters of U.S. economic activity, surged in September, according to data released last week.
Fresh GDP data released on Thursday, which exceeded economist expectations, reinforces other recent indicators of a strong economy resisting the Federal Reserve's effort to cool price increases with a slowdown.
A blockbuster jobs report earlier this month exceeded economist expectations by nearly twofold. Consumer spending, which accounts for nearly three-quarters of U.S. economic activity, surged in September, according to data released last week.
US economy grew at blistering pace in 3rd quarter
Posted from abcnews.go.comPosted in these groups: 
Economics
Economics
Posted 7 mo ago
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The latest Job Openings and Labor Turnover Summary (JOLTS), released on Oct. 3, shows job openings increasing: to 9.6 million in August, largely in line with recent periods:
8.8 million in July
9.6 million in June
9.8 million in May
10.1 million in April
9.6 million in March
9.9 million in February
10.8 million in January
11.2 million in December.
If the economy is going to keep growing you are going to need workers and we are all out of US workers.
8.8 million in July
9.6 million in June
9.8 million in May
10.1 million in April
9.6 million in March
9.9 million in February
10.8 million in January
11.2 million in December.
If the economy is going to keep growing you are going to need workers and we are all out of US workers.
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PO1 William "Chip" Nagel POTUS Biden's age doesn't seem to be a problem...
..."Business leaders and policymakers will closely watch when the Fed announces its latest rate-hike decision on Nov. 1.
The central bank expects to raise rates one more time this year, according to projections included alongside a statement last month from the Federal Open Market Committee, or FOMC, the Fed's decision-making body on interest rates.
The benchmark interest rate currently stands at a range 5.25% to 5.5%, as a result of a near-historic series of rate increases, also known as credit tightening,
"Given the fast pace of the tightening, there may still be meaningful tightening in the pipeline," Powell said last week."
..."Business leaders and policymakers will closely watch when the Fed announces its latest rate-hike decision on Nov. 1.
The central bank expects to raise rates one more time this year, according to projections included alongside a statement last month from the Federal Open Market Committee, or FOMC, the Fed's decision-making body on interest rates.
The benchmark interest rate currently stands at a range 5.25% to 5.5%, as a result of a near-historic series of rate increases, also known as credit tightening,
"Given the fast pace of the tightening, there may still be meaningful tightening in the pipeline," Powell said last week."
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