The U.S. economy grew at a 2.3% annualized pace in Q4 2024, slightly below expectations of 2.5%, according to the Commerce Department. GDP growth for the full year was 2.8%, down from 2.9% in 2023. Consumer spending remained robust, rising 4.2%, while government spending boosted growth. The U.S. economy’s resilience and slower inflation have led the Federal Reserve to adopt a patient approach to monetary policy. The Fed suggests aggressive rate cuts are unlikely shortly.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The U.S. economy grew at a 2.3 percent annualized pace in Q4 2024,
00:06slightly before below expectations of 2.5 percent, according to the Commerce Department.
00:11GDP growth for the full year was at 2.8 percent, down from 2.9 percent in 2023.
00:16Consumer spending remains robust, rising to 4.2 percent, while government spending boosted growth.
00:22The U.S. economy's resilience and slower inflation has led to the Federal Reserve
00:26to adopt a patient approach to monetary policy.
00:29The Fed suggests aggressive rate cuts are unlikely in the near future.