US economy grew 1.1% in first quarter signaling slowdown

• April 27, 2023
• realestatelife
• Business & Markets, Fed, Interest Rates, Politics & Economy, Rates, Real Estate, Real Estate Finance, Recession, World News, Your Real Estate Life

Federal Reserve expected to raise rates another 25 basis points next week

The U.S. economy rose 1.1% in the first quarter, falling short of estimates, in a sign that a slowdown is underway. 

It is also a big pullback from the fourth quarter’s 2.6% rise and the third quarter’s 3.2% increase, according to the final estimate from the Bureau of Economic Analysis.

  (Bureau of Economic Analysis )

The read may present a conundrum for the Federal Reserve and Chairman Jerome Powell, who frequently touts being data dependent, heading into next week’s May meeting.