Gross Domestic Product (GDP) data are among the most important economic data available for measuring economic growth, but measuring the output of a large, dynamic economy is a complex task. In this Economic Lowdown podcast, hear what GDP measures, how it is calculated, how it is useful in determining whether and how quickly the economy is growing, and how GDP can be used as indicator of standard of living.
Listen to Episode 13: Gross Domestic Product
A Guide to the National Income and Product Accounts of the United States (NIPA).
St. Louis Fed President James Bullard noted that, although the performance of the economy is getting closer to normal, monetary policy remains at emergency settings, with the near-zero policy rate. As long as incoming data are satisfactory, he would be supportive of starting to normalize monetary policy, he said.