According to the Commerce Department, the U.S. economy expanded for the fourth quarter of last year at a 2.9% annualized pace, higher than the Dow Jones analysts’ estimate of 2.8%.
In addition, the December CPI moderated for the sixth consecutive time, rising 6.5% year-over-year. Although investors are optimistic about this data, recession fears remain mixed as they focus on monetary policy and the upcoming Fed decision.
