roles creating self cleaning brush roles. sometimes consumers might roles. sometimes consumers might not even know the problems that they have with their problems that they have with their existing products. and it s our their existing products. and it s ourjob to observe and question it s ourjob to observe and question probe to try to figure out where those problems might exist out where those problems might exist. ., ., g. , exist. before we go, japan s nick a index is exist. before we go, japan s nick a index is up exist. before we go, japan s nick a index is up slightly i nick a index is up slightly after the strong gdp data, up by 1.6% in the first three months of this year. ronnie s passion has always been sneakers. he initially opened this shop to provide an expert who cleaning service just as the pandemic hit. business was affected massively. nobody was going out so nobody wanted their shoes cleaned. so i started selling
would do everything they could to avoid defaulting on the debt. i don t think that would ever really happen what about the economy right now? how s it looking given all the talk of a recession and also disruption in the banking system. new trouble of course, trying to save first republic bank? so the economy s been looking generally pretty good. i mean, a little bit weaker than at the end of last year, the economy is growing a little more slowly. we just got the gdp data out last week. and that s to be expected. the federal reserve has been raising interest rates a rot. tlot. but there s not any sign of recession at present. the closest we had was bank turmoil last month as you mentioned. that seems to be largely resolved now. they re working on sort of the
last resort. what about the comply right now? h economy right now? new trouble trying to save first republic bank. so the economy s looking generally pretty good. a little weaker than the end of last year. the economy is growing a little more slowly. we got the gdp data out last week. that s expected. the federal reserve is raising interest rates quite a lot. they are trying to reduce price pressures and inflation, but th there s not anything close to recessions after yet. the l largest thing was the bank failure last month. they seem to be working on that. there doesn t seem to be a
what did we learn from this report? well, jose, the federal reserve s preferred gauge on inflation is the personal consumption expenditures price index. it dropped to 4.2% in march from the 5.1% in february. so, it is a welcome sign as higher inflation, of course, has driven the fed to aggressively raise interest rates over the past six months. however, it is still above the central bank s target of 2%. so moving in the right direction, but economists argue it may not be enough to stop the fed from one more interest rate hike next week. however, it could lead to a smaller rate hike than previous months. right now the forecast is for a quarter point raise. the pce data does coincide with the gdp data we received yesterday that did show the u.s. economy growing at a slower pace than prior months. so evidence that higher interest rates are certainly curtailing spending, not to mention the recent stress we have been seeing in the banking sector. yeah, making everything more