The U.S. Gross Domestic Product (GDP) rose at a 2.9% annualized pace in the fourth quarter, surpassing the Dow Jones estimate of 2.8%. The restoration of growth in the fourth quarter was led by increases in consumer spending, government spending, private inventory investment, and non-residential fixed investment.
Inflation has shown signs of cooling as it eased for the sixth consecutive month in December. However, the Fed is expected to keep raising interest rates this year until it can bring inflation down to its desired level.
