Economy Expands by Unexpectedly Brisk 3.3 Percent Pace in Fourth Quarter as Consumers Fuel Resilient Growth
There is growing optimism that the Federal Reserve is on track to deliver a rare ‘soft landing’ — raising borrowing rates enough to cool growth, hiring, and inflation yet not so much as to send the economy into a tailspin.
WASHINGTON — The nation’s economy grew at an unexpectedly brisk 3.3 percent annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households.
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