The U.S. economy

great at an annual rate of 4.9% during the third quarter, blowing past expectations for an increase of 4.3%, and accelerating from growth of 2.1% in Q2.
Despite fears over a looming downturn, the U.S. economy continues to grow at an above-average pace as consumer spending remains resilient.
*Key Takeaway: A strong economy is bad news for the Federal Reserve and adds to the case that the Fed might have to raise interest rates one more time before the end of 2023.