U.S. Economy Shows Unexpected Strength With 353K New Jobs as Inflation Cools, Mortgage Rates Edge Down
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The U.S. economy showed unexpected strength this week with 353,000 jobs added in January, far exceeding forecasts. This signals ongoing resilience amid high interest rates.
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The Fed kept interest rates unchanged this week between 5.25-5.5%, suggesting cautious optimism about economic trajectory as inflation cools.
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Mortgage rates edged downward slightly, which could spur a housing market rebound this spring.
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Inflation data showed prices decelerating, with the PCE index rising 2.6% year-over-year in December, indicating inflation is slowing.
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Strong 3.3% GDP growth in the last quarter of 2022 despite recession forecasts points to the economy's resilience, challenging Trump’s prediction of an impending crash.