Economy Grows Faster Than Expected, But K-Shaped Recovery Looms

U.S. economy surged in Q3, growing at 4.3% annualized, ahead of forecasts, driven by robust consumer spending, particularly in electric vehicles. However, the recent government shutdown may have dampened growth, and affordability pressures are mounting. The economy is experiencing a K-shaped recovery, with big companies investing in AI while smaller ones struggle. The Federal Reserve cut interest rates but signals no more cuts soon.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.