US gross domestic product grew at an annual pace of 2.2% in the spring.
“In the spring, GDP grew at an annual pace of 2.2%, which was already pretty solid.”
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Stephen Bisaha
1 episodes · 6 quoted claims
Stephen Bisaha cited continued large tech-industry investment in artificial intelligence, including data centers, as one reason economists expected higher GDP growth.
“First, there is the continued massive investment from the tech industry into artificial intelligence.”
Moody's Analytics chief economist Mark Zandi blamed economic fragility on inflation tied to Trump administration policies, including tariffs and the US war against Iran.
“He blames that fragility on inflation and ties it to the Trump administration's policies, like tariffs and the U. S. war against Iran”
The Labor Department reported that consumer prices rose 3.7% in September from a year earlier.
“A few weeks ago, we got data showing consumer prices rose 3.7% in September from a year earlier.”
The Commerce Department was due to release a separate September inflation reading, which the Federal Reserve watches most closely.
“Today, we get a separate reading on inflation for September, this one from the Commerce Department, and it's the one the Fed pays the most attention to.”
The Federal Reserve raised interest rates once in September to slow inflation.
“And so the Fed already raised interest rates once in September, and that was their way of applying the brakes”