A retreat in the US economic growth, beating a bit the projections in the latest trio months of the previous year, implying that Fed's interest rate policy had an impact on the spending of the household and business aspects.

The US economy grew by 2.9$ on yearly basis for the last quarter, precisely from last September to December, dropping from 3.2% of the preceded quarter and topped the predictions at 2.6%.

The Commerce Department reported that the recent raise in the GDP reading mirrors a surge in the governmental and household spendings.

This was somehow compensated by a retreat in residential fixed investment. Exports also saw slip, specifically in goods indicating a tweak in the spendings after the ease of the Covid-19 spread.

It seems that inflation has touched a peak, accordingly Fed watchers progect that the central bank will take less aggressive stance and uncover eased hikes by the upcoming week.