US economy cools like the Fed wants, still risks a stall in 2023

(Image: Bloomberg)

Tue, 31 Jan 2023

By Augusta SaraivaThe US economy beat expectations in the last quarter of 2022, posting the kind of mild slowdown that the Federal Reserve wants to see as it attempts to tame inflation without choking off growth. Economists who dug into the details, though, saw enough warning signs – especially in weakening demand among American consumers – to suggest that a recession remains a big risk this year.Gross domestic product rose at a 2.9% annualised pace, down from 3.2% in the third quarter. A separate report on labour markets publi...

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