Posted on 10/26/2018 6:11:14 AM PDT by ScottinVA
The U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to data released by the Commerce Department on Friday.
Gross domestic product expanded by a 3.5 percent annual rate. Economists polled by Dow Jones expected the economy to expand by a 3.4 percent annual rate.
The department said the PCE price index, a key measure of inflation, increased by 1.6 percent last quarter, much less than the 2.2 percent increase expected by economists polled by StreetAccount.
(Excerpt) Read more at cnbc.com ...
Hahaha ... Faster than cNBC expected.
That kind of good news should be enough to make the Dow drop 500 points or so!
We can all thank obama. He made it happen.
Hey Media- Remember under Odumbo it was always “slower than expected’ and always “revised downward”
Huh? ‘member?
This is a nice change...
Come on!!! Who cares about that kind of stuff when there are fake bombs and red solo cups being handed out? #priorities
cdcdawg wrote: “That kind of good news should be enough to make the Dow drop 500 points or so!”
Futures are down significantly. Logic says 3.5^% growth means FED will raise interest rates which is bad for stocks.
Bump
This is why the Democrats are sending “bombs” in the mail to themselves.
B+ grade! And that with 2 major hurricanes and the Fed raising rates. This is remarkable
Well, damn.
This type of economical turmoil will kill Trump’s chances.
Why was inflation never mentioned under Odumbass?
I know my grocery bill doubled over his 8 years.
AND the boxes got smaller -or- filled with more air.
Has the 4th quarter GDP been released yet?
From Trump’s election to 12/2018 the interest rates were raised TWO WHOLE PERCENTAGES with outlook for another whole percentage point by summer 2020.
The Fed thinks it’s tamping down the economy, but it simply gives people who like moderate investment more options in things like CDs and such. Bank saving is actually turning a small profit now.
I think food and fuel areomitted from the inflation calculations
The turds at the fed are reeling from Trump’s last righteous dressing down. They’ll tread lightly from now on.
That being said, I do think 3% fed funds is normal, but how about keeping our debt service low as we let Trump try and shrink the national debt.
I agree with you. I also know that they are hampering one of our largest sectors, home construction, by making it harder for the middle class to buy.
The message to home builders and buyers is to do it NOW. The Fed is on the warpath.
If we keep this pace ( assuming the 4th quarter does not turn South ), We are on track to make at least 3% Annual GDP growth, something that the Obama Administration told us is not possible.
Used to be the Fed raised if inflation was apparent. Story says it’s not. Guess the Fed believes its job now is to prevent the economy and GNP from getting too high. People might start giving Trump credit.
Yes, a growing economy is bad for stocks ... something seems fishy about a system like that. The Fed is an interesting component of our republic.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.