US Economic Growth Jumps to Nearly 2-Year High in Q3, Testing Fed's Inflation Fight
-
US economic growth likely jumped to a nearly 2-year high in the third quarter, underscoring its strength versus other major economies.
-
Robust consumer spending is fueling the growth, testing the Fed's ability to curb inflation running at almost twice its target.
-
GDP data won't likely impact a November rate hike, but sustained momentum could prompt tightening around year-end.
-
Outside the US, central banks in Canada, Europe, Israel, Chile, Russia, and Turkey also have key rate decisions next week.
-
Eurozone business confidence, UK labor data, and inflation reports from China, Singapore, and Mexico will offer economic snapshots.