About: http://data.cimple.eu/news-article/17937e5e5b54fb4b39599685fce33cebfafe82fbb207a192c2f69b82

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rdf:type	schema:NewsArticle
schema:articleBody	The US economy's recovery from the Covid-19 pandemic disruptions accelerated in the first quarter of the year, posting annualized growth of 6.4 percent, the government reported Thursday. But business reopenings and increased spending also pushed prices higher, with a key inflation measure jumping 3.5 percent in the January-March period, compared to a rise of just 1.5 percent in the prior quarter, the Commerce Department reported. Even excluding more volatile food and energy prices, the price index for personal consumption expenditures (PCE) rose 2.3 percent -- surpassing the Federal Reserve's 2.0 percent target. Fed chief Jerome Powell on Wednesday again tried to stomp out increasing concerns about inflation, saying the price spikes in coming months is largely due to the bounceback from the sharp declines seen in the early months of the pandemic. Supply chain bottlenecks created by the restart from last year's shutdowns also are playing a role, but Powell insists that both factors are only transitory. The Fed has pledged to keep its stimulative policies in place, including interest rates near zero, until employment has recovered and inflation exceeds the target for some time. Consumers began to spend more freely in the first quarter, led by purchases of autos, homes and big-ticket consumer goods, as well as on services like hotels and restaurants, the report said. Federal government spending jumped nearly 14 percent in the quarter. Excluding the growth surge in the third quarter of 2020, the gain is the biggest since third quarter 2003. The measure shows how fast the economy would expand if the growth rate continued for a full year. Compared to the fourth quarter, GDP rose 1.6 percent after a 1.6 percent rate in the prior three months, the report said. hs/bgs
schema:headline	US economy grows 6.4% in January-March quarter: govt
schema:mentions	Supply chain World energy consumption Lewis F. Powell Jr. Federal Reserve Inflation Gross domestic product Pandemic Coronavirus disease 2019 Personal consumption expenditures price index United States Department of Commerce Jerome Powell
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-29 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	60 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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