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Tag: PCE

  • Macroeconomics

U.S. Economy Contracted in First Quarter of 2025

Jing FuApril 30, 2025April 30, 202504 mins

The U.S. economy contracted in the first quarter of 2025 for the first time in three years, driven by a sharp surge in pre-tariff imports, softening consumer spending, and a decline in government spending. According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) decreased at an…

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  • Macroeconomics

U.S. Economy Ends 2024 With Solid Growth

Jing FuJanuary 30, 2025January 30, 202504 mins

Real GDP growth slowed in the fourth quarter of 2024, but the economy finished the year at a solid rate. While consumer spending continued to drive growth, gross private domestic investment detracted over a full percentage point mainly due to a decline in private inventories. According to the “advance” estimate released by the Bureau of Economic…

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  • Top Posts

Top Posts – How Quickly Do Prices Respond to Monetary Policy?

Eric LynchDecember 31, 2024April 16, 2025012 mins

With the end of 2024 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In April, Eric Lynch examined various macroeconomic and housing finance components and their responsiveness to changes in the federal funds rate. As economist Milton Friedman once quipped, monetary policy has a history…

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  • Macroeconomics

The U.S. Economy Posted Another Solid Growth in Third Quarter

Jing FuOctober 30, 2024October 30, 202413 mins

The U.S. economy grew at a solid pace in the third quarter of 2023, boosted by strong consumer spending and government spending. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) expanded at an annual rate of 2.8% in the third quarter of 2024, following a…

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  • Macroeconomics

U.S. Economic Growth Accelerated in Second Quarter

Jing FuJuly 25, 2024July 25, 202403 mins

In the second quarter of 2024, the U.S. economy grew twice as fast as it did in the first quarter, supported by consumer spending and private inventory investment. Furthermore, the data from the GDP report suggests that inflation is cooling. The GDP price index rose 2.3% for the second quarter, down from a 3.1% increase…

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  • Macroeconomics

U.S. Economic Growth Slows in First Quarter

Jing FuApril 25, 2024May 7, 202404 mins

Compared to the fourth quarter of 2023, the U.S. economy grew at a noticeably slower pace in the first quarter of 2024 due to an increase in the trade deficit and weaker inventory investment. But it was still on solid ground supported by consumers, the government, and the housing industry. Meanwhile, the data from the…

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Financial stock market investment trading graph. Candle stick graph chart. Currency exchange rates. Bullish point, Bearish point. trend on technology abstract background
  • Macroeconomics
  • Policy Research

How Quickly Do Prices Respond to Monetary Policy?

Eric LynchApril 17, 2024April 16, 2025012 mins

As economist Milton Friedman once quipped, monetary policy has a history of operating with “long and variable lags.”[1] What Friedman was expressing is that it takes some time for the true effects of monetary policy, like the changing of the federal funds rate, to permeate completely through the larger economy. While some industries, like housing,…

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