US Treasury Secretary Yellen:
-
Says strong US Q4 GDP performance is ‘a good thing,’ not likely
creating an inflationary challenge - Q4 GDP data driven
by ‘strong, healthy spending’ and productivity improvements - She does not see
anything in GDP report that threatens ‘soft landing’ scenario for US economy - Some goods prices
are falling and there is continued moderation in wage growth, which
is important for controlling prices of services - It is unclear if
recent productivity gains are temporary, too soon to speculate on
impact of artificial intelligence on productivity
Yellen is understating it, that report was awesome. It obliterated even the highest estimate in the Bloomberg survey:
And inflation plummeted (deflator).
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This article was written by Eamonn Sheridan at www.forexlive.com. Source