GDP Report Shows Consumer Resilience, CEA's Rouse Says

The video discusses the current state of the economy, highlighting GDP growth, inflation, and the impact of Federal Reserve policies. It notes the resilience of consumer spending and business investment, despite a slowdown in housing. The labor market remains strong, with low unemployment claims. The video emphasizes the importance of data in understanding economic trends and the potential for the Fed to manage inflation without causing significant economic pain.

What was the estimated GDP growth in the third quarter according to the Commerce Department?

• 1.5%

• 4.0%

• 2.6%

• 3.2%

Which sector was identified as the major drag on GDP last quarter?

• Net exports

• Housing investment

• Business investment

• Consumer spending

What was the main contributor to GDP growth in the last quarter?

• Housing investment

• Net exports

• Business investment

• Consumer spending

What do low unemployment insurance claims suggest about the labor market?

• It is declining

• It remains strong

• It is unstable

• It is shrinking

What is the challenge faced by the Fed in managing the current economy?

• Increasing GDP growth

• Reducing consumer spending

• Controlling inflation without causing economic pain

• Boosting housing investment