Economic Growth & Indicators - US economy grew at the fastest pace in nearly two years, driven by consumer spending [1] - GDP revised up to 38%, fueled by consumer and business spending [6] - Durable goods orders increased by 29%, primarily due to airplanes, while computer and computer chip orders decreased [4][5] - Jobless claims fell to 218000 [4] Federal Reserve Policy - Fed Governor Stephen Myron suggests the neutral rate is drifting down, requiring policy adjustment to avoid downside risks [2] - Some Fed members, like Austan Goolsbee, are hesitant to frontload rate cuts given the current economic conditions [6] - Jeff Schmitt views the current policy stance as only slightly restrictive and doesn't advocate for rate cuts, citing high inflation and a largely balanced labor market [7] Trade & Tariffs - Trade good balance shows the effect of tariffs, with a deficit of 855 billion due to a significant decrease in imports (over 4%) in July [5]
US Economy Grows as Jobless Claims Fall
Bloomberg Television·2025-09-25 14:45