Golden Finance reported that Federal Reserve Chairman Powell said recent indicators show that economic activity continues to expand at a steady pace. Boosted by elasticity in consumer spending, GDP grew by 2.5% in 2024. Equipment and intangible asset investment appeared to decline in the fourth quarter, but overall performance was solid for the whole year. Activity in the real estate industry appears to have stabilized after a weakening mid-year period. In the labor market, the situation remains solid and seems to have stabilized. In the past four months, an average of 189,000 new jobs were created per month. After an earlier rise, the unemployment rate has remained stable since mid-last year, with 4% in January, still at a low level. Nominal wage growth has slowed over the past year, and the gap between jobs and workers has narrowed. Overall, a broad range of indicators suggests that labor market conditions are roughly in equilibrium. The labor market is not a source of significant inflationary pressure.