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Joe Biden - 1 Eisenhower - 1 WASHINGTON — - 1 Biden - 1 Spencer Platt - 1 Dow - 1 Joseph LaVorgna - 1 Goldman Sachs - 1
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2 mentions found


☆ Biden hails hot GDP report, but voters don't see the rosy picture Wall Street does
  + stars: | 2023-10-26 | by ( Emma Kinery | ) www.cnbc.com   time to read: +1 min
President Joe Biden speaks during an event on the economy, from the South Court Auditorium of the Eisenhower Executive Office Building on the White House complex, Monday, Oct. 23, 2023. WASHINGTON — The U.S. GDP grew at 5% last quarter, better than expected, and President Joe Biden said it was evidence that his economic policies are working. The number beat Wall Street expectations and marked the biggest quarterly GDP gain since late 2021. For months, Biden has traveled the country giving speeches on his economic agenda, dubbed "Bidenomics," and the booming economy. Yet polling shows Americans overall are still uncertain that the economy is truly strong, and voters still favor Republicans on economic issues.
Persons: Joe Biden, Eisenhower, WASHINGTON —, Biden Organizations: South, WASHINGTON, Bidenomics, Thursday's Commerce, White Locations: WASHINGTON — The, Thursday's, U.S
☆ The economy probably showed gangbuster growth in the third quarter. But will it last?
  + stars: | 2023-10-25 | by ( Jeff Cox | ) www.cnbc.com   time to read: +5 min
If the projection is correct, it will be the strongest output since the fourth quarter of 2021, when growth was just shy of 7%. However, policymakers, economists and markets will be focused more on forward-looking signals from an economy that repeatedly has defied expectations. For Q3, GDPNow is projecting growth of 5.4%, with more than half — 2.77 percentage points — to come from consumer spending. That expectation intensified during a brief banking industry crisis in March 2023 that the Fed expected would constrain credit enough to bring about a downturn. Central bank officials have raised rates aggressively while professing to not want to drag the economy into recession.
Persons: Spencer Platt, Dow, Joseph LaVorgna, Goldman Sachs, Donald Trump, LaVorgna, Steven Ricchiuto, Ricchiuto, —, Quincy Krosby, that's Organizations: Getty, Gross, Dow Jones, Commerce Department, Nikko Securities America, Federal Reserve, Fed, White, Mizuho Securities USA, Department, Treasury, LPL Locations: Manhattan, New York City, U.S
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