04-25-2024, 08:36 PM
Bidenomics economy created high inflation, high inflation created higher mortgage and auto rates and no end in sight. It advises to pay off high interest loans if you are struggling. I would offer credit card debt is the highest it has ever been in our history due to being used to buy groceries and then can't pay it off at the endo of the month resulting in the debt rising faster.
https://www.foxbusiness.com/personal-finance/q1-gdp-slows-inflation-rises
US first quarter GDP slows more than expected, but inflation keeps rising
Federal Reserve in no hurry to cut rates
U.S. gross domestic product (GDP) dropped faster than expected in the first quarter, but a key metric used by the Federal Reserve to measure inflation kept rising, according to the Bureau of Economic Analysis (BEA).
Real GDP increased at an annual rate of 1.6% for the January-through-March period after rising 3.4% in the fourth quarter of 2023, according to the Bureau of Economic Analysis (BEA) advance estimate released Thursday. Economic forecasts had called for a deceleration of growth over the previous month, with the expectation that the economy would expand by 2.4%, according to a Reuters report.
Compared to the fourth quarter, the deceleration in real GDP in the first quarter primarily reflected decelerations in consumer spending, exports and state and local government spending and a downturn in federal government spending. This slowdown was partly offset by an acceleration in residential fixed investment.
"We knew the economy was weaning itself off government support, we just didn't figure that would cause GDP to drop this quickly," said Robert Frick, Navy Federal Credit Union corporate economist. "With government spending down and consumer spending moderating as Covid-era supports disappear, GDP fell below all estimates.
"But consumers continue to spend at a healthy rate, especially as evidenced by big spending on imports, which drove down the topline GDP number," Fick continued. "First quarter GDP is often squirrelly and heavily revised – just look at last year's – so all-in-all, this shouldn't be taken as a fundamental downshift in the economy."
If you're struggling in the current economy, you could consider paying off high-interest debt with a personal loan at a lower rate. You can visit Credible to get your personalized interest rate without affecting your credit score.
https://www.foxbusiness.com/personal-finance/q1-gdp-slows-inflation-rises
US first quarter GDP slows more than expected, but inflation keeps rising
Federal Reserve in no hurry to cut rates
U.S. gross domestic product (GDP) dropped faster than expected in the first quarter, but a key metric used by the Federal Reserve to measure inflation kept rising, according to the Bureau of Economic Analysis (BEA).
Real GDP increased at an annual rate of 1.6% for the January-through-March period after rising 3.4% in the fourth quarter of 2023, according to the Bureau of Economic Analysis (BEA) advance estimate released Thursday. Economic forecasts had called for a deceleration of growth over the previous month, with the expectation that the economy would expand by 2.4%, according to a Reuters report.
Compared to the fourth quarter, the deceleration in real GDP in the first quarter primarily reflected decelerations in consumer spending, exports and state and local government spending and a downturn in federal government spending. This slowdown was partly offset by an acceleration in residential fixed investment.
"We knew the economy was weaning itself off government support, we just didn't figure that would cause GDP to drop this quickly," said Robert Frick, Navy Federal Credit Union corporate economist. "With government spending down and consumer spending moderating as Covid-era supports disappear, GDP fell below all estimates.
"But consumers continue to spend at a healthy rate, especially as evidenced by big spending on imports, which drove down the topline GDP number," Fick continued. "First quarter GDP is often squirrelly and heavily revised – just look at last year's – so all-in-all, this shouldn't be taken as a fundamental downshift in the economy."
If you're struggling in the current economy, you could consider paying off high-interest debt with a personal loan at a lower rate. You can visit Credible to get your personalized interest rate without affecting your credit score.
![[Image: 4CV0TeR.png]](https://i.imgur.com/4CV0TeR.png)
First 6 years BB - 41 wins and 54 losses with 1-1 playoff record with 2 teams Browns and Pats
