Mumbai, Feb. 13 -- The US Federal Reserve Chair Jerome Powell has remarked before the Committee on Financial Services, U.S. House of Representatives yesterday that recent indicators suggest that economic activity has continued to expand at a solid pace. Gross domestic product rose 2.5 percent in 2024, bolstered by resilient consumer spending. Investment in equipment and intangibles appears to have declined in the fourth quarter but was solid for the year overall. Following weakness in the middle of last year, activity in the housing sector seems to have stabilized.
Powell stated that in the labor market, conditions remain solid and appear to have stabilized. Payroll job gains averaged 189,000 per month over the past four months. Following ...