1 Apr 2025 5:01 pm
Is A Recession Looming? An Economic Update From Fed Chair PowellMar 20, 2025, 06:22pm EDT
Powell said the U.S. economy is strong overall and labor market conditions are solid. He added that the economy grew at a rate of 2.3% during the fourth quarter of 2024. He also said consumer spending is moderating following rapid growth in the second half of 2024. This is important since consumer spending is by far the largest component of the U.S. economy, accounting for approximately 70% of total gross domestic product. Thus, if consumers continue to spend, the economy should do well.
Powell said the labor market remains solid with job gains averaging 200,000 per month for the past three months. Unemployment is low, at 4.1%, and wages are growing faster than inflation.
Powell did say there’s a lot of uncertainty around the Trump administration policy changes and their effect on the economic outlook. However, given the most recent data, there is no sign that a recession is near.
Even though there is a chance of recession in the not-too-distant future, today, the economy is strong, the labor market is solid, and inflation is falling. Although the chance of recession exists, it seems to be low.
I will take the report from Powell and not the biased bitch from the failed bloomberg trash magazine. You really should change your news sources. I get my news from Jesse Waters. A real journalist.
Is A Recession Looming? An Economic Update From Fed Chair Powell
