America’s economy just roared past expectations with a blistering 4.3% growth rate in the third quarter, proving there’s still plenty of fight left in this nation’s financial engine, CNBC reported.
According to the Commerce Department’s initial report released on Tuesday, the U.S. economy expanded at a remarkable pace from July to September, far outstripping the 3.2% growth that Dow Jones economists had predicted.
For hardworking taxpayers, this is a mixed bag—while the numbers signal strength, persistent inflation pressures mean their dollars aren’t stretching as far, with real financial burdens piling up at the grocery store and gas pump.
Driving this surge, consumer spending jumped to 3.5% in the third quarter, a hefty leap from the 2.5% seen in the prior period.
Exports and government spending also chipped in, alongside a smaller drop in private fixed investment, showing that multiple sectors are pulling their weight.
Yet, for retirees on fixed incomes, these gains are hollow when inflation, as measured by the personal consumption expenditures (PCE) price index, climbed to 2.8%, up from 2.1% last quarter.
Even worse, the core PCE index—stripping out volatile food and energy—rose to 2.9%, compared to 2.6% previously, staying well above the Federal Reserve’s 2% target.
Another measure, the chain-weighted price index, spiked to 3.8%, a full percentage point higher than forecasts, reminding us that Washington’s spending habits often fuel these price hikes.
Federal Reserve policymakers are keeping a close eye on these figures, especially real final sales to private domestic purchasers, which ticked up to 3%—a sign consumer demand isn’t slowing down.
Now, let’s talk timing—this report was supposed to drop on October 30 but got stalled by a government shutdown, only to replace a second estimate originally set for November 26.
The Bureau of Economic Analysis plans one final estimate later, but the delay itself raises questions about whether bureaucratic gridlock is obscuring the full picture for Americans who deserve transparency.
While markets barely blinked at this backward-looking data, with stock futures dipping slightly and Treasury yields holding firm, the lack of reaction doesn’t erase the real-world sting of inflation.
On a brighter note, corporate profits soared by $166.1 billion, a 4.2% jump, compared to a measly $6.8 billion gain in the second quarter—proof that businesses are thriving.
But here’s the rub: while big corporations rake it in, everyday Americans are left wondering when their share of this prosperity will trickle down, especially under policies that often seem to prioritize Wall Street over Main Street.
As we digest these numbers, it’s clear the economy has momentum, but with inflation stubbornly high, conservatives must keep pushing for accountability—ensuring government spending doesn’t keep fanning these flames while hardworking families bear the cost.
