FEBRUARY 24, 2025 – TRACKING ECONOMIC DATA THIS WEEK
There will be a number of important data released this week, including an update to fourth quarter GDP, durable goods and core PCE data. Expectations are for a slight revision down to the GDP from the 2.3 percent in the original release. The core PCE, the number the Fed considers its preferred inflation gauge, is expected to be up.
The Fed’s next regularly scheduled meeting is set for March 18-19. Recent economic data supports holding rates steady for the foreseeable future, as inflation is tracking well above the Fed’s 2 percent target and the labor market remains solid. The latest thinking suggests one or two rate cuts will take place this year, and not before the summer.