Golden Ten: U.S. economic growth accelerated to 4.9% in the third quarter, and interest rates are expected to remain unchanged in November

The U.S. economy grew at its fastest pace in nearly two years in the third quarter as a tight labor market boosted wages and helped boost consumer spending. The U.S. economy is once again defying recession warnings that have been lingering since 2022. Data from the U.S. Department of Commerce show that the U.S. GDP quarterly rate in the third quarter was 4.9%, the fastest growth rate since the fourth quarter of 2021. Although this strong economic growth is unlikely to continue, it is a testament to the economy's resilience. U.S. growth is likely to slow in the fourth quarter as the United Auto Workers union strikes and millions of Americans resume student loan payments. Most economists have revised their forecasts, believing the Fed can deliver a "soft landing" for the economy. Financial markets expect the Fed to keep interest rates unchanged in November. (Golden Ten)