WS #16524
US weekly jobless claims remained near 57-year lows, indicating a resilient labor market despite Federal Reserve rate hikes. Additionally, US Q3 GDP expanded by 3.4%, beating expectations, while September core inflation rose 3.1% year-over-year. These data points suggest the US economy is slowing but not contracting, reducing the urgency for aggressive monetary easing and supporting the case for a soft landing, albeit with persistent inflationary pressures.
US Labor Market and Macro Data
US weekly jobless claims remained near 57-year lows, indicating a resilient labor market despite Federal Reserve rate hikes. Additionally, US Q3 GDP expanded by 3.4%, beating expectations, while September core inflation rose 3.1% year-over-year. These data points suggest the US economy is slowing but not contracting, reducing the urgency for aggressive monetary easing and supporting the case for a soft landing, albeit with persistent inflationary pressures.