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Ending The Fed’s Drug Problem

By |2017-03-30T18:07:07-04:00March 30th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Gross Domestic Product was revised slightly higher for Q4 2016, which is to say it wasn’t meaningfully different. At 2.05842%, real GDP projects output growing for one quarter close to its projected potential, a less than desirable result. It is fashionable of late to discuss 2% or 2.1% as if these are good numbers consistent with a healthy economy. This [...]

Not Much To Headline GDP Revisions; Major Revisions Of Corporate Profits

By |2016-08-26T17:49:47-04:00August 26th, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

Second quarter 2016 GDP was revised slightly lower, from about 1.21% to just 1.09%. That changes nothing from the preliminary estimate, as real GDP has averaged now only 0.93% over the past three quarters since last summer’s major, global disruption. Since the FOMC declared risks “balanced” and heading toward “overheating” in late 2014, economic growth as measured by GDP has [...]

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