U.S. Economy Faces Stagflation Threat as GDP Growth Slows and Inflation Rises
The U.S. GDP grew by only 1.6% in the first quarter of 2024, significantly below forecasts, while core inflation accelerated to 3.7%, prompting concerns over stagflation.
- The Dow Jones and major U.S. stock indexes experienced significant declines amid economic concerns.
- Tech giants like Meta and IBM reported disappointing earnings, further dampening market sentiments.
- Federal Reserve unlikely to cut interest rates soon due to persistent inflation, complicating economic recovery efforts.
- Political figures and analysts express concerns over the economic direction, with some predicting stagflation under current policies.
- Investors and markets react nervously, adjusting expectations for future Federal Reserve actions.
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