"Wall Street Befuddled by U.S. Economy as Strong GDP Data Sparks Optimism"
TL;DR
Wall Street and the Federal Reserve have consistently underestimated the strength of the U.S. economy in 2023, with GDP growth outpacing their forecasts in each quarter. Despite initial expectations of no growth or even contraction, the economy performed much better than anticipated, leading to surprise and adjustment in forecasts throughout the year. The Federal Reserve also missed the mark with its growth projections, highlighting the challenges of forecasting an economy emerging from a pandemic and unprecedented fiscal stimulus.
- Wall Street has been befuddled by the U.S. economy. Here's how bad it's been. MarketWatch
- The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back CNBC
- Heard on the Street Recap: Good Times Keep Rolling The Wall Street Journal
- Economic growth stayed strong in the fourth quarter Marketplace
- Wall St opens higher after strong GDP data; Tesla slides on growth warning Colorado Springs Gazette
Want the full story? Read the original reporting
Read on MarketWatch