Economy Expands 3.9%, More Than Previously Forecast

The video discusses unexpected growth in GDP and personal consumption, with GDP revised up to 3.9% and consumption to 2.2%. Matt Miller provides analysis, noting the importance of the core PCE inflation indicator, which remains at 1.4%. The Federal Reserve aims for closer to 2% inflation before considering rate hikes. The focus is on inflation numbers and their implications for economic policy.

What are the key numbers that economists were looking for in the survey conducted by Bloomberg?

What inflation rate does the Fed prefer to see before raising rates?