The US Economy’s Resilience Cannot Be Denied

The debate among reasonable individuals about whether disinflation in the US is actually stalling continues to rage on. However, recent data released by the Bureau of Economic Analysis on Friday has shown that the underlying strength of the economy is becoming increasingly difficult to ignore. This suggests that central bankers may be able to hold off on reducing benchmark interest rates.

Personal spending in February increased by 0.4% after adjusting for inflation, which was higher than the median estimate of economists surveyed by Bloomberg who had predicted a 0.1% increase. Furthermore, reports from the day before showed that consumer sentiment had reached its highest level since July 2021, weekly initial jobless claims had decreased and pending home sales had rebounded in February following a decline in January. All of these signs indicate that the economy is performing well and is being scrutinized for any weaknesses.

Despite this, there are still concerns about inflation and its impact on Federal Reserve monetary policy. However, with such strong economic data it is becoming increasingly clear that central bankers may have more room to maneuver than they initially thought.

By Sophia Gonzalez

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