US consumers are becoming increasingly optimistic about recovery prospects.

Director of the White House National Economic Council, Ms. Lael Brainard, believes in the positive outlook of the US economy.

Cố vấn kinh tế của Tổng thống Joe Biden: Người tiêu dùng Mỹ đang dần lạc quan về triển vọng phục hồi

The US economy grew at a much faster pace than expected and inflation continued to decelerate in the fourth quarter of 2023. (Source: Reuters)

Lael Brainard said that US inflation is holding at 2%. Data on spending and consumer confidence in the country shows that Americans are gradually regaining confidence in their personal finances, while the rate of increase in consumer prices is slowing.

WASHINGTON (Reuters) - The risks facing the world's largest economy from a potential slowdown in China and supply chain disruptions related to disruptions in shipping through the Red Sea appear to be limited, President Joe Biden's top economic adviser said on Thursday, adding he was confident the U.S. economy's outlook was positive.

Lael Brainard said she is monitoring the potential economic fallout from attacks by Yemen’s Houthi rebels on container ships in the Red Sea, which economists say are likely to have less of an impact on U.S. supply chains (compared to other parts of the world).

In 2023, China's GDP growth will reach 5.2%, meeting the government's growth target of about 5%. Entering 2024, the Chinese economy will still face many difficulties such as: a prolonged decline in the real estate market, a weak private sector and poor domestic consumption.

Ms. Brainard assessed that the weak recovery of the Chinese economy is an important factor for many countries in the region, neighboring China, and some economies have close links with China, while the US economy is more diversified.

The top US economic adviser highlighted several key issues facing the US economy in 2024, including housing affordability and health care costs, which President Biden is focusing on addressing.

The US economy grew at a much faster pace than expected and inflation continued to decelerate in the fourth quarter of 2023, according to a report from the US Department of Commerce released on January 25. The report showed that US GDP grew at an annual rate of 3.3% in the final quarter of the year. This increase was much higher than the 2% growth forecast by experts. In the third quarter of 2023, the US economy grew 4.9%.

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