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[Powell: U.S. Economic Activity Expanding At A Solid Pace, Labor Market Stable] February 11Th, Federal Reserve Chairman Powell Stated That Recent Indicators Suggest That Economic Activity Continues To Expand At A Solid Pace. Boosted By The Resilience In Consumer Spending, GDP For 2024 Grew By 2.5%. Investment In Equipment And Intellectual Property Seemed To Have Softened In The Fourth Quarter, But Overall Performance For The Year Remained Robust.Following A Soft Patch In The Middle Of Last Year, Activity In The Real Estate Sector Appears To Have Stabilized. On The Labor Market Front, The Situation Remains Firm And Seems To Have Plateaued. Over The Past Four Months, There Has Been An Average Monthly Gain Of 189,000 Jobs. Following An Earlier Uptrend, The Unemployment Rate Has Held Steady Since Mid-Last Year, Standing At 4% In January And Remaining At A Relatively Low Level.Nominal Wage Growth Has Moderated Over The Past Year, And The Gap Between Job Openings And Workers Has Narrowed. Overall, A Range Of Broad-Based Indicators Suggest That The Labor Market Conditions Are Broadly Balanced. The Labor Market Is Not A Significant Source Of Inflationary Pressure.
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