Soft landing?

It’s clear economist's consensus whiffed on this one. Predictions were in the 2% range but instead, came it at 3.3%.  Off from Q3’s 4.9% but still another sign that the widely predicted recession was sitting this one out while the American consumer is not. 

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Soft landing?
Welcome to the Know the Difference Minute for Thursday, January 25th.
Shocking. Surprising. Hotter than expected. That’s how 4th Quarter GDP numbers were described after landing this morning.
It’s clear the Wall Street consensus whiffed on this one. Predictions were in the 2% range but instead, came it at 3.3%. Off from Q3’s 4.9% but still another sign that the widely predicted recession was sitting this one out while the American consumer is not.
In addition to the better-than-expected GDP move, there also was some progress on inflation. Core prices for PCE, or personal consumption expenditures, rose 2.7% annually vs. 5.9% a year ago. PCE is a favored Fed datapoint as a longer-term inflation measure.
Fed officials want to see less price pressure before cutting rates. As of this morning, the odds of a March cut were just above 47%.
The runway’s in sight. Keep that seatbelt on.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.