---
title: Weekly Talking Points for Financial Advisors (1/29/24)
description: As an OCIO, Helios distributes a 19-page Weekly Report to member firms every Friday, which includes risk level summaries, model allocations, detailed model positioning information, market index inform
---

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# [Weekly Talking Points for Financial Advisors (1/29/24)](https://heliosdriven.com/helios-insights/weekly-talking-points-for-financial-advisors-1-29-24)

 Written by [Team Helios](https://heliosdriven.com/helios-insights/author/teamhelios) | Jan 29, 2024 3:25:49 PM

Read the highlights of this week's commentary from Helios:

- US GDP grew at an annualized rate of 3.3% in the fourth quarter, driven by a decrease in inflation that stimulated consumer spending. In 2023, the economy expanded by 2.5%, concluding a year that was unexpectedly robust and defied predictions of a recession.
- The Federal Reserve’s preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Index, which excludes the more volatile food and energy components, fell to a three-year low of 2.9% in December. Annualized over the last six months, core PCE inflation was 1.9% in December, below the Fed’s 2% target.
- Core PCE service-sector inflation increased at a 2.6% rate, the slowest since the end of 2020. Consumer spending, which  
   accounts for about two-thirds of the economy, saw broad growth across various sectors, contributing 1.9 percentage points to GDP.
- Treasury Secretary Janet Yellen expressed uncertainty about the future of interest rates post-pandemic, marking a shift from her previous expectation of returning to weak inflation. She acknowledged the ongoing debate about whether rates will revert to pre-pandemic levels, contrasting with her earlier dismissal of a return to high rates of the '70s and '80s.

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