U.S. Economy Grew Fastest in 2 Years in Q3, But Slowdown Ahead as Fed Fights Inflation

The economy grew 4.9% in Q3, the fastest rate in nearly 2 years, beating some expectations.

Despite the strong GDP report, voters aren't giving Biden much credit. His economic approval is still negative.

Growth is expected to slow heading into 2023 due to rising rates, declining buffers, and other headwinds.

The GDP report suggests the economy remains resilient for now, but it's backward-looking.

The Fed may take further action to fight inflation based on the strong Q3 data, despite growth expected to slow.