GDP Crashed to 0.7% While Inflation Soared #useconomy #gdp #inflation

Core PCE inflation just came in at 3.1%, and that is the Federal Reserve’s favorite inflation measure. At the same time, GDP was revised down to 0.7%, though the long government shutdown likely reduced growth by about 1%. With energy prices rising after the Iran conflict, the next inflation reports could become even more important for interest rates, mortgage rates, and the economy. Russell McDonald | NMLS 290837 | Broker CA DRE 01150730 Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628 Real Estate Broker - CA Dept of Real Estate