December 9, 2021

US Economic Update – 9 December 2021

Q4 GDP looking strong; Fed turning more hawkish

Key highlights:

  • Expectations for Q4 GDP growth revised up on the back of very strong October data.
  • The unemployment rate and other labour market indicators point to an increasingly tight labour market, while inflation remains elevated.
  • A broadening out of inflation pressures has contributed to a hawkish turn by the Fed; we now expect the Fed to announce a faster taper at its December meeting and to start lifting the fed funds rate from Q2 2022.

Find out more in NAB’s US Economic update (December 2021)