Thursday, June 30, 2022

Welcome To The Recession: Atlanta Fed Slashes Q2 GDP To -1%, Pushing First Half Into Contraction | ZeroHedge

A day after Fed Chair Powell crowed once again how the US economy was strong enough to cope with his hawkish rate-hike cycle (and President Biden told the world this morning that the US economy is the strongest in the world), the Atlanta Fed just stole the jam out of everyone's donut by confirming the recession has started.

If you were curious why bond yields are plunging and rate-hike expectations are falling, then here's your answer, courtesy of the Atlanta Fed, which just confirmed the economy is in technical recession.

via www.zerohedge.com

https://rightcoast.typepad.com/rightcoast/2022/06/welcome-to-the-recession-atlanta-fed-slashes-q2-gdp-to-1-pushing-first-half-into-contraction-zerohedge.html

| Permalink

Comments

"President Biden told the world this morning that the US economy is the strongest in the world." I was so astonished to hear that that I fell off my bike.

Posted by: dearieme | Jul 1, 2022 4:28:40 AM

Another federal agency demonstrating its' total uselessness.

Posted by: STU | Jul 1, 2022 8:34:42 AM

Post a comment