📈Market forecasts show that the U.S. Department of Commerce will announce a third-quarter GDP annualized growth rate of 3% on Wednesday, marking the 10th consecutive quarter of expansion for the U.S. economy!💪
Meanwhile, the core PCE price index is expected to significantly slow down to 2.1%, close to the Federal Reserve's 2% inflation target.📉 This data is crucial for Federal Reserve policy, as they use PCE as the primary inflation indicator.
Although Citigroup predicts that GDP growth may be lower than expected at only 2.6%, meeting the inflation target is likely to reinforce the Federal Reserve's decision to only cut interest rates by 25 basis points next week.💼
Keep a close eye on the next few days!📊
