The morons at the NY Fed had forecaste upwards of 1% growth, no? Jar my memory.
It looks like the Atlanta Fed’s GDPNow models worked, only missing by a tenth of one percent.
*ECONOMY IN U.S. GREW 0.5% IN FIRST QUARTER VS 0.7% FORECAST
Spin it however you like: these are abysmal numbers (thunderous lightning strikes spire atop castle).
Dow futs are lower by 133.
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Does this mean they won’t raise rates the rest of the year?
Consider
March: “The Committee continues to monitor inflation developments closely.”
April: “The Committee continues to closely monitor inflation indicators and global economic and financial developments.”
There’s a <1% chance that they will raise in June considering the Brexit vote and the 3rd coming of te Greek bond crisis in June. Both of these events will have major influence on world markets, and therefore future FED policy, so it's too early to tell after that.
Helicopter money on the way…….more crack for the addicts. Me thinks a little price discovery would go a long way toward restoring health to this phony market.
You people crack me up. Always denying what is right in front of you.
Yes, price discovery. Discovery that the market is on crack and going higher.
Simple explanation for the NY FED’s model’s miss: no matter how accurate the model and how well it fits (past) data, the model’s projection still relies on *assumptions* as input data for future predictions.
In other words: garbage in, garbage out.
There is no need for helicopter money.
Just have one rate increase per year
and Bob’s your uncle.Jobs are still
growing.
You’re just fucking yourself if you’re not going to grease the inflation wheels.
I just snorted a line of coke. I think I’m going to sell some TLT and buy shares of FB. It’s too easy to make money in this market especially when Helicopter Yellen is dropping free dollar bills.
Yes, free cocaine from Janet for all market participants.