U.S. GDP Report’s Inflation Data Makes It Harder for Fed to Cut Rates

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 25 April 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for April 25. Gross domestic product expanded at a 1.6% seasonally- and inflation-adjusted annual rate in the first quarter. The Commerce Department’s report also suggests inflation was firmer than expected in March. Markets reporter David Uberti has more. And hearing a last-ditch appeal from Donald Trump, the Supreme Court appeared open to granting some level of immunity to protect former presidents from prosecution. Jess Bravin reports. Plus, Scott Patterson discusses the federal effort to speed up big power-grid infrastructure projects. Pierre Bienaimé hosts. Listening on Google Podcasts? Here's our guide for switching to a different podcast player. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:22.6	Go to Krakin.com and see what crypto can be.
0:25.2	Don't invest unless you're prepared to lose all the money you invest.
0:27.2	This is a high-risk investment and you should not expect to be protected if something goes wrong.
0:30.0	U.S. economic growth slows, but inflation proves sticky.
0:37.0	Is the dream of interest rate cuts slipping away?
0:40.0	The Fed typically wants to have inflation around a 2% annualized rate and what economists fear
0:45.5	with some of this recent data is that inflation will actually settle closer to 3%.
0:51.2	And J.P. Morgan CEO Jamie Diamond casts doubt on the possibility of a soft landing.
0:56.0	Plus, how the Energy Department plans to fast track power grid construction across the U.S.
1:01.0	It's Thursday, April 25th. I'm Pierre Biana May for the Wall Street Journal,
1:05.4	filling in for Henry Fertoli. This is the PM edition of What's News, the top headlines and
1:10.4	business stories that move the world today.
1:13.0	The U.S. economy continued growing in by 1.6 percent at a
1:25.0	at a seasonally and inflation-adjusted annual rate,
1:31.0	but stubbornly high inflation is still dashing
1:34.8	investors hopes that the Federal Reserve will begin cutting interest rates in
	...

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