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Analyzing Fed Chair Jay Powell’s most recent GDP report breakdown

Federal Government’s Third Estimate of GDP for First Quarter of 2023

The Federal Reserve is closely monitoring the latest GDP data, which shows a significant slowdown in growth. The Bureau of Economic Analysis released its third estimate of gross domestic product for the first quarter of the year, revealing a drop from 3.4% to 1.4%. Fed Chair Jerome Powell is particularly focused on the “final sales” GDP data, which excludes exports, imports, and inventory investment to provide a clearer signal on underlying demand. While some economists see this as a positive sign of continued consumer spending and business investment, others believe it indicates a slowing economy. As the second quarter comes to a close, all eyes are on the evolving economic landscape.


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