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Reported U.S. figures put revised Q2 GDP at 2.2% and core PCE at 3.0%

A September 30 post says Q2 GDP was revised up from 1.5%, core PCE came in below the 3.3% expected, and ADP private jobs rose by 90,000 versus roughly 68,000 expected.

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3 Sources, 1d ago, first seen 1d ago

TLDR

A September 30 post says Q2 GDP was revised to 2.2% from 1.5%, core PCE came in at 3.0% versus 3.3% expected, and ADP private jobs rose by 90,000 versus roughly 68,000 expected. Separately, a September 29 post quotes New York Fed President John Williams saying there was “no need for urgency” on rates and that one more hike “may be appropriate late this year” if the economy follows his forecast.

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Combined views

5.9M

3 Sources, first seen 1d ago

23.3K likes1.1K comments1K saves4.1K reposts

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3 Sources

@NickTimiraosNew Fed guidance: “There is no need for urgency.” John Williams, the vice chair of the FOMC, delivers notably precise pushback in guiding against an October rate hike that has been getting priced by investors. https://www.newyorkfed.org/newsevents/speeches/2026/wil260929 He lays out his base case: One more hike “may be appropriate late this year.” Following Warsh’s press conference two weeks ago, markets had pushed pricing of an October rate increase above 50% — to as high as 70% in futures markets in recent days. Here is the key passage from the NY Fed president’s prepared remarks on Tuesday afternoon: “With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information. The accumulation of more data should provide greater clarity on the underlying trends in the economy and the associated risks to achieving our goals—and thereby the appropriate setting of monetary policy.” “If the economy evolves in a manner broadly consistent with my forecast, one further upward adjustment of the federal funds target range may be appropriate late this year to support a timelier return of inflation to target. But that is just my forecast, and time—and the totality of the data—will tell.”
@DavidSacksToday’s economic numbers: — Q2 GDP revised up to 2.2% (was 1.5%). — Core PCE 3.0% vs 3.3% expected. — ADP private jobs +90k vs ~68k expected. Growth beat. Inflation cooled. Jobs better than expected. The Trump economy is strong.
@RapidResponse47.@POTUS: “We’re thrilled to announce one of the largest energy infrastructure investments in American history.” — A $22.3 billion, 6.5 GW natural-gas power facility in Encinal, Texas. — Eight large nuclear reactors — Alaska LNG project
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    3 Sources

    @NickTimiraosNew Fed guidance: “There is no need for urgency.” John Williams, the vice chair of the FOMC, delivers notably precise pushback in guiding against an October rate hike that has been getting priced by investors. https://www.newyorkfed.org/newsevents/speeches/2026/wil260929 He lays out his base case: One more hike “may be appropriate late this year.” Following Warsh’s press conference two weeks ago, markets had pushed pricing of an October rate increase above 50% — to as high as 70% in futures markets in recent days. Here is the key passage from the NY Fed president’s prepared remarks on Tuesday afternoon: “With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information. The accumulation of more data should provide greater clarity on the underlying trends in the economy and the associated risks to achieving our goals—and thereby the appropriate setting of monetary policy.” “If the economy evolves in a manner broadly consistent with my forecast, one further upward adjustment of the federal funds target range may be appropriate late this year to support a timelier return of inflation to target. But that is just my forecast, and time—and the totality of the data—will tell.”
    @DavidSacksToday’s economic numbers: — Q2 GDP revised up to 2.2% (was 1.5%). — Core PCE 3.0% vs 3.3% expected. — ADP private jobs +90k vs ~68k expected. Growth beat. Inflation cooled. Jobs better than expected. The Trump economy is strong.
    @RapidResponse47.@POTUS: “We’re thrilled to announce one of the largest energy infrastructure investments in American history.” — A $22.3 billion, 6.5 GW natural-gas power facility in Encinal, Texas. — Eight large nuclear reactors — Alaska LNG project
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