BlockBeats News, March 13th. The actual GDP growth rate for the US in the fourth quarter was significantly revised down to 0.7%, from the initial 1.4%, well below the market’s expectations of 1.5%, indicating a clear slowdown in economic momentum. Following the data release, the market still expects the earliest Fed rate cut to be before September. However, given the stubborn inflation and the rise in oil prices due to the situation in the Middle East, there remains uncertainty regarding the rate cut prospects.
Meanwhile, the US’s January PCE price index rose by 0.3% month-on-month, reaching 2.8% year-on-year; the core PCE, which excludes food and energy, rose by 0.4% month-on-month, reaching 3.1% year-on-year, hitting a two-year high. The core PCE has seen a 0.4% month-on-month increase for two consecutive months, indicating that inflation still has stickiness.
