The U.S. economy concluded 2024 with a 2.3% GDP growth in Q4, slightly below expectations, as strong consumer spending at 4.2% partially offset a decline in business investment. Full-year growth was 2.8%, down from 2.9% in 2023. Persistent inflation concerns arose with the personal consumption expenditures index increasing to 2.3%. Amidst this, the Federal Reserve held interest rates steady, reflecting a cautious outlook. The potential economic direction under the incoming Trump administration introduces uncertainty, as proposed tax cuts and trade tariffs may impact future growth positively or negatively, complicating the economic landscape.