The U.S. economy grew at a 2.3% annualized pace in Q4 2024, slightly below expectations of 2.5%, according to the Commerce Department. GDP growth for the full year was 2.8%, down from 2.9% in 2023. Consumer spending remained robust, rising 4.2%, while government spending boosted growth. The U.S. economy’s resilience and slower inflation have led the Federal Reserve to adopt a patient approach to monetary policy. The Fed suggests aggressive rate cuts are unlikely shortly.
