Bloomberg: US economic data adds to concerns about slowdown in country's GDP growth

Updated US economic data is conflicting. Market participants are debating whether growing concerns over President Donald Trump's trade policies will lead to a slowdown in GDP growth in the United States. This is reported by Bloomberg.

Surveys on sentiment among US households and businesses warn of a potential major economic downturn. The nation’s leader is implementing significant import tariffs on the country's major trading partners and drastically cutting federal spending. However, government statistics suggest that these fears may be unfounded.

According to the University of Michigan survey, Americans are most concerned about rising prices in the country due to the ambiguous actions of the US administration. Nevertheless, such surveys reflect people's anxieties about their future. In this regard, it is necessary to rely on more reliable information, as noted by Citigroup.

On Wednesday, Federal Reserve Chairman Jerome Powell sought to ease concerns about inflation expectations. Powell explained that it makes sense for officials to keep interest rates steady until they have a clearer understanding of Donald Trump's policies.