Long And Variable Lags

Northern Trust's latest U.S. Economic & Interest Rate Outlook analyzes key macroeconomic trends and policy developments shaping financial markets.  

• The Federal Reserve remains in a holding pattern, awaiting further data on inflation and employment before adjusting rates.  
• January’s CPI report showed inflation rising to 3.0%, complicating efforts to meet the Fed’s 2% target.  
• U.S. GDP grew 2.3% in Q4, driven by consumer spending and residential investment.  

For a deeper analysis of the economic landscape and investment implications, access the full report.