TechFlow News — QCP Capital noted that weaker-than-expected U.S. GDP growth signals a slowdown in economic expansion, while the rise in core Personal Consumption Expenditures (PCE) price index highlights ongoing inflation concerns for the Federal Reserve.
The U.S. GDP report revealed a 1.6% annualized growth rate in Q1 this year, down from 3.4% in the previous quarter. Meanwhile, the PCE price index showed prices increased at a 3.4% annual rate during the first three months of the year, up from 1.8% in the prior quarter. This stagflationary mix of slowing growth and persistently rising inflation further diminishes the likelihood of Federal Reserve rate cuts.
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