No wonder Janet Yellen, Stanley Fischer and other members of The Fed’s Open Market Committee (FOMC) are confused. They can’t even find any uniform opinion on GDP growth.
The New York Fed’s Nowcast Q2 GDP forecast has dropped to 1.8%. On the other hand, the Atlanta Fed’s GDPNow Q2 forecast is for 4.2%.
Here is the data underlying the NY Fed’s Nowcast report.
No wonder Janet Yellen is dazed and confused.
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