A Weekly Fed Update on the Latest Macroeconomic Highlights

inflation
GDP growth
interestRates
construction
hospitality
consumer spending
Co-Authored and Reviewed by Gagan Sandhu, MBA - The University of Chicago Booth School of Business, CEO of Xillion
Posted on . 1 min read

šŸšØ šŸ¦ Weekly Fed update šŸšØ šŸ¦ Here are the macroeconomic highlights:

1ļøāƒ£Wages are still growing. In the first three months of 2023, employers spent 1.2% more on wages in the U.S. This may seem surprising if you are a knowledge worker, especially in tech, which has been hit hard by the interest rate hikes. But demand remains strong in lower-wage jobs, especially the service sector, construction, and hospitality.

2ļøāƒ£ Inflation is sticking around. Consumer inflation (as measured by the wonky personal-consumption expenditures price index) dropped to 4.2% in March compared to 5.1% in February.

3ļøāƒ£ The economy is slowing down. U.S. GDP growth is slowing down, in spite of the relatively strong jobs market. Consumer spending has remained around the same levels for the past two months.

4ļøāƒ£ And still, signs point to yet another rate hike. The Fed gets to decide on rate hikes next week, and many are predicting a 0.25% increase. That would slow down the econo

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