The ‘Super Bowl’ of economic data
UC economist speaks to ABC News on major data releases and a key policy decision
This week brings a whirlwind of data and decisions that will offer insights into what’s next for the U.S. economy.
ABC News turned to Michael Jones, associate professor of economics at UC’s Lindner College of Business, for what can be gleaned from the headlines.
"It's a huge week – this is the Super Bowl for economic data," Jones told ABC News. "It's certainly a test for Trump's tariff policy."
This morning saw gross domestic product, or GDP, data continuing to grow at a rate of 3%. This afternoon, the Fed decided to hold interest rates steady at 4.25% to 4.5%, according to ABC News.
"The Fed chair has made clear he's data dependent," Jones said. "He won't make decisions on a whim or at Trump's command."
All of this as economists anticipate the jobs report and new tariff decisions on Friday.
But Jones added that while fresh information this week could prove significant, forecasters still face challenges posed by fluctuating tariffs and unforeseen shifts in the data.
"I wouldn't take too strong of a conclusion from just one week," he said.
Read the full report on ABC News.
Featured image at top of the Federal Reserve building. Photo/Adobe Stock/Aaron Kohr.
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