US Economy Grows at Slowest Pace in Nearly Two Years in Q1 2024 as Inflation Rises, Biden Acknowledges More Work Needed
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#7e5717d6 ver:1.55

The US economy grew at its slowest pace in nearly two years in Q1 2024, with GDP increasing at a 1.6% annualized rate, lower than expected. Inflation also rose, with prices jumping 3.7%. Despite slower growth, the economy is still expanding above the non-inflationary growth rate. Concerns of stagflation arise as trade and exports weigh down GDP growth. Treasury Secretary Janet Yellen remains optimistic, citing job gains and strong consumer spending. President Biden acknowledges the need for more work in the economy. The combination of weaker growth and higher inflation is problematic for the economy and markets. #US #economy #GDP #inflation #stagflation #Biden #Yellen...

#newstr #UsEconomy #Inflation #Growth #Biden #FederalReserve 

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