US third quarter economic growth fastest since 2021 at 4.9%

[Collection]The U.S. economy grew at a strong pace of 4.9% in the third quarter, driven by consumer spending. Despite higher prices and rising interest rates, Americans continued to spend on various goods and services. However, experts predict that the growth rate will slow down in the fourth quarter and into 2024 due to factors such as higher borrowing rates. The Federal Reserve is expected to keep its key interest rate unchanged in its upcoming meeting. Other factors impacting the economy include student loan repayments and a sluggish housing market.