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Home > Blog > United States Up 2.5% On GDP
United States Up 2.5% On GDP back to articles
Posted: Dec. 31st, 1969
US Economy Expanded at 2.5% Annual-Rate

"Bigger gains in hiring and worker pay are needed to propel consumer spending, the biggest part of the economy, at a time when a run-up in mortgage rates is limiting the housing rebound. Federal Reserve policy makers, who last week decided to maintain $85 billion in monthly bond buying, are seeking more evidence of lasting improvement in the expansion before trimming stimulus.

"It's slow and steady improvement in the economy," said Gennadiy Goldberg, a strategist at TD Securities USA LLC in New York. "We haven't seen enough acceleration in momentum. The Fed wants to see more vigorous growth."

While 2.5% is not a huge number, it is certainly a well welcomes improvement when improvement is what the Fed has been pushing for. Stimulus programs will remain in place until the market gets rolling a little faster with its own momentum. Until then, expect slow and steady growth of the market, and perhaps a little more faith in stocks while the news of the increased GDP is fresh in buyer's minds.

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