The AP reports:
The U.S. economy turned in a remarkably strong performance in the summer despite surging energy prices and the battering the Gulf Coast states took from hurricanes, although business growth was slightly lower than the government previously estimated.
The Commerce Department reported Wednesday that the gross domestic product, the nation's total output of goods and services, rose at an annual rate of 4.1 percent in the July-September quarter. It was the fastest pace of growth in 1½ years.
Those of you who thought the Fed would stop raising rates probably now realize the MSM was promoting a dream.Let's quote directly from the last
FOMC statement:
The Committee judges that some further measured policy firming is likely to be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance.
Sounds like the fed funds target rate is going higher.Along with mortgage rates.
