I know some people (Biden Admin and Market) are selling a Great US Economy….
People out there do NOT ‘feel’ that…..
We now get a look back at last month and see that the US Economy IS slowing into a recession….
Ole Jerome at the Fed is gonna be happy….
Us?
We haven’t been for a while…..
Prices ARE high and are not coming down….
“The economy is in a very unsettling, dicey situation,” said Joseph LaVorgna, chief economist at SMBC Nikko Securities America. “All forward-looking measures are pointing to significant slowing.”
The new round of data showing slower-than-expected growth will inform policymakers as they consider the rapid pace of interest-rate hikes, as well as the debt-ceiling battle roiling Washington. A failure to reach a deal between President Biden and Congressional Republicans in the coming months could send global financial markets into a tailspin and further strain the economy.
Three years after the coronavirus recession — which spanned February to April 2020, the steepest and shortest on record — the U.S. economy remains resilient but shaky. Businesses are hiring, people are getting raises, and families are continuing to spend…
This Really Doesn’t Look Like a Recession
“Neither corporate earnings nor the latest GDP numbers imply we’re careening toward an economic contraction,” Axios reports.
“Last year, as the Fed tightened rates at the most rapid clip since the early 1980s — and stocks fell about 20% — obsession with the possibility of a downturn overtook both executives and the business press.”
“To paraphrase the economist Robert Solow, the downturn has been everywhere, but in the economic statistics.”