Faster US growth ahead of PCE data pushes us equities lower

Thursday 25th September 2025

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Unexpectedly positive data out of the US, including an upward revision to GDP, has push ed equities lower, and adds to the question of when does the Fed need to cut. NAB’s Gavin Friend joins Phil to dissect the data and examine the (still very varied) views of Fed speakers. It depends on the inflation data, of course, out later today. But if growth is picking up, if the job market isn’t weakening as much as first thought, could inflation pick up faster?

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