About the Video
Weekly stock market analysis – US Q3 GDP, Core PCE Price Index, Fed Pivot and more.
🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ Click Here
⬇️Timestamps:
0:00 → Economic Updates
2:19 → US Q3 GDP
3:19 → Core PCE Price Index (Oct)
5:28 → Upcoming Important Dates & Summary
Last week, Federal Reserve Chairman Jerome Powell confirmed that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate.
The US Gross Domestic Product (GDP) or the total value of all goods and services produced in the economy, increased at a 2.9% annualised rate during the period. That reflected upward revisions to consumer and business spending, and compares with a previously reported 2.6% advance.
The personal consumption expenditures price index excluding food and energy, which Fed Chair Jerome Powell stressed this week is a more accurate measure of where inflation is heading, rose a below-forecast 0.2% in October from a month earlier. Similar to consumer price index data last month, the report shows that while inflation is beginning to ease, it remains much too high. While a deceleration in inflation is certainly welcomed, Powell emphasized that the US is far from price stability and that it will take “substantially more evidence” to provide comfort that inflation is actually declining.
The spread between the yields on the 10-year and 2-year Treasury notes has been inverted for more than a month, and is now standing at -0.79%. An inverted yield curve has historically been a reliable indicator of a coming recession, coming most recently before downturns in 1990, 2001, and 2008. While brief inversions typically don’t predict a downturn, ones that last beyond a momentary flashing can have stronger predictive power.
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Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.
