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Has the 'mystery' of the upward revision of the USA GDP been revealed? The Commerce Department has increased national savings by 500 billion in one month.
The unexpected boost to GDP is due to the US Department of Commerce revising personal income and expenditures, increasing after-tax disposable personal income by 3.8% and expenditures by less than half of the income increase. As a result of this calculation, personal savings have increased from $600 billion in July to $1.1 trillion in August.
After the surprise rate cut, Federal Reserve officials are pushing for a "steady loosening" of the monetary floodgates.
①Mussalem told the media that the US economy may react "very strongly" to overly loose financial conditions, which will stimulate demand and extend the time needed to bring inflation back to 2%; ② He acknowledged that the US labor market has cooled down in recent months, but given the low layoff rate and overall strong economy, he remains optimistic about the prospects.
Economists: The employment market in the usa is approaching a turning point, and the pace of rate cuts by the Federal Reserve will "accelerate".
Founder of Rosenberg Research and top economist David Rosenberg said that the US employment market is facing a key turning point, which may mean that the Federal Reserve will cut interest rates faster than expected.
The Fed's 'favorite' inflation indicators continue to cool down! The core PCE in August compared to 0.1%, hitting a new low since May.
"The New York Fed communicator" Nick Timiraos commented on this month's PCE data, saying that the PCE indicator favored by the Fed is not far from the Fed's target.
VTI ETF Declines 0.1%
Two pieces of bullish economic data, U.S. stocks welcome a 'strong tailwind'!
Analysts point out that as long as inflation in the usa remains within a manageable range, the Federal Reserve can almost completely focus on the labor market, which means cutting interest rates!