QCP Capital said lower-than-expected GDP growth in the United States pointed to slower economic growth, while the rise in the core personal consumption expenditure price index warned that inflation problems continue to plague the Federal Reserve. The US Q1 grew at an annual rate of 1.6% this year, compared with 3.4% in the previous quarter. Meanwhile, the personal consumption expenditure price (PCE) index showed prices rose at an annual rate of 3.4% in the first three months of this year, compared with 1.8% in the fourth quarter of last year.
The combination of slowing economic growth and rising inflation has further weakened the chances of a rate cut by the Federal Reserve.
QCP Capital: The combination of slowing economic growth and rising inflation further weakens the possibility of the Federal Reserve cutting interest rates
2024-04-29 05:50:28
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