The Atlanta Fed was right on target. GDP growth in Q2 clocked in at 2.8%:
There's nothing special to report in the details. Personal consumption was up; investment was up: and government production was up. This is just a very nice, positive report.
13 thoughts on “Economy grows 2.8% in Q2”
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the only concern here is does this growth impact the Feds decision to not cut rates?
ima guess little to none, because it's in line with the Fed's own estimates, and it's not SO strong as to raise eyebrows. But who knows.
And Why It Worries Democrats
A Times Analysis
"This is just a very nice, positive report...."
Here's why that's bad news for Joe Biden.
Sorry New-York-Times-Pitchbot-Brain is hard to turn off.
How often has that been the case?
But what about the local guy at the diner who can't find work and had to spend his life savings to buy the expensive Cheetos? WHAT ABOUT THAT GUY!?
You know, it'd be kind of entertaining if the economy suddenly stalled because there weren't enough bodies to fill the vacancies owing to the backlash of foreigners "taking our jobs", forcing companies to outsource labor to other countries instead of hiring undocumented or green card workers.
How can this be when illegal immigrants are stealing 107% of jobs?
(Of all the stupid shit that comes out of Trump's mouth, that particular bit offends me well above baseline. THAT ISN'T HOW PERCENTAGES WORK!!!!)
C’mon, Trump doesn’t even understand how shoelaces work!
https://www.thedailybeast.com/what-donald-trumps-abandoned-shoe-says-about-americas-path-now
Much less how tariffs work, or that the 2% amounts spoken of in terms of NATO membership obligations are not "dues."
Stock market has been interesting...
Trump/Vance go on about not helping Taiwan, and stocks crash.
Biden drops out of the race and endorses Harris, stock rebound.
Tesla reports that it's not doing well, tech sector crashes.
(granted, it's been way over its skies for a while, and Google did ok but apparently investors are worried about huge amounts being spent on AI, or so reports say)
Fed reports economy is actually doing ok--and good news is treated as good news and stocks go up.
A bit of a roller coaster. Other reports will be coming out--will see how the rest of the magnificent seven do. And as a commentator on NPR said, 7 went in, 3 came out.
Why are the bars red for the first two quarters of 2023?
Because there was a little retraction there as overreaction to the fed rate increase.
It wasn't associated with a reduction in employment or consumer spending.