In a statement following its two-day meeting covering July 25 and 26, the Federal Open Market Committee (FOMC or the Committee) decided to “maintain the target range for the federal funds rate at 1 to 1.25 percent”. All FOMC members voted in favor of this decision. In its statement, the FOMC maintains that, at this level, “the stance of monetary policy remains… Read More ›

# Tag Archive for ‘macroeconomics’

## Second Look at GDP Growth in the First Quarter – A Little Better, But About the Same

The Bureau of Economic Analysis (BEA) released the second estimate of real GDP growth in the first quarter of 2017. Economic activity expanded at a 1.2% seasonally adjusted annual rate, an upward revision from the previous 0.7% estimate. This estimate is based on more complete data than was available for the “advance” estimate. Real GDP grew at a 2.1% rate… Read More ›

## First Look at GDP Growth in the First Quarter – Investment Up (Except Inventories), Consumption Down

Economic activity slowed in the first quarter, GDP growth dropped to a 0.7% seasonally adjusted annual rate from a 2.1% rate in the fourth quarter. The main culprits in the slowdown were personal consumption expenditures (PCE) and inventory investment. The Bureau of Economic Analysis (BEA) released the “advance” estimate of real GDP growth in the first quarter of 2017. Despite… Read More ›

## Third Look at GDP Growth in the Fourth Quarter – A Little Better, Hail Consumers

The third estimate of real GDP growth in the fourth quarter of 2016, from the Bureau of Economic Analysis (BEA), shows slightly faster economic growth, a 2.1% annual rate, up from 1.9% in the earlier estimate(s). Personal consumption expenditures (PCE) gets all the credit; fixed investment, trade and government spending all declined. PCE rose at a 3.5% rate, up from… Read More ›

## Another Look at GDP Growth in the Fourth Quarter

The second estimate of real GDP growth in the fourth quarter of 2016 from the Bureau of Economic Analysis (BEA) shows negligible revisions, unchanged overall at a 1.9% seasonally adjusted annual rate. Real GDP grew at an annual rate of 3.5% in the third quarter. Personal consumption expenditures (PCE) grew slightly faster than in the initial estimate, 3.0% annually instead… Read More ›

## First Look at GDP Growth in the Fourth Quarter

The Bureau of Economic Analysis (BEA) released the “advance” estimate of real GDP growth for the fourth quarter of 2016. Real GDP grew at a 1.9% seasonally adjusted annual rate, slowing from 3.5% in the third quarter. The BEA emphasizes that the first estimates of quarterly GDP are based on data that are incomplete and/or subject to revision, and subsequent… Read More ›

## Federal Open Market Committee December Meeting – The Devil is in the Details

“In their discussion of their economic forecasts, participants emphasized their considerable uncertainty about the timing, size, and composition of any future fiscal and other economic policy initiatives as well as about how those polices might affect aggregate demand and supply. Several participants pointed out that, depending on the mix of tax, spending, regulatory, and other possible policy changes, economic growth… Read More ›

## Third Look at GDP Growth in the Third Quarter

The Bureau of Economic Analysis (BEA) released the third estimate of real GDP growth for the third quarter of 2016. Real GDP grew at a 3.5% seasonally adjusted annual rate, slightly better than the second estimate of 3.2%. Growth was 1.4% in the second quarter. The upward revision was based largely on slightly faster growth in personal consumption expenditures (PCE)… Read More ›

## Second Look at GDP Growth in the Third Quarter – Better But Beware

The Bureau of Economic Analysis (BEA) released the second estimate of real GDP growth for the third quarter of 2016. Real GDP grew at a 3.2% seasonally adjusted annual rate, an upward revision from the advance estimate of 2.9%. Growth was 1.4% in the second quarter. The upward revision was based mainly on faster growth in personal consumption expenditures (PCE)… Read More ›

## First Look at GDP Growth in the Third Quarter – Mind the Details

The Bureau of Economic Analysis (BEA) released the “advance” estimate of real GDP growth for the third quarter of 2016 with the standard caveat that this estimate “is based on source data that are incomplete or subject to further revision by the source agency.” That combined with some concentrated strengths and lingering weaknesses makes the apparent improvement over last quarter… Read More ›