A crucial Fed Indicator simply turned unfavorable suggesting what TGP has actually cautioned about for months. The United States in formally in an economic downturn.
TGP has for months cautioned that the Biden economy is dealing with an economic downturn. Now it has actually lastly landed.
BIDEN ECONOMY: Retail and Auto Sales Are Down, Layoffs Announced, A Recession remains in the Works
This came true today. A Fed design now reveals the GDP projection is unfavorable.
On June 30, the #GDPNow design nowcast of genuine GDP development in Q22022 is -1.0%. https://t.co/T7FoDdgYos #ATLFedResearch
Download our EconomyNow app or go to our site for the current GDPNow nowcast. https://t.co/NOSwMl7Jms pic.twitter.com/ t87 bBJGRsv— Atlanta Fed (@AtlantaFed) June 30, 2022
Zerohedge verifies the bad however not unexpected news.
ATLANTA FED GDPNOW -1.0%
Recession
— zerohedge (@zerohedge) June 30, 2022
There are some squirrelly actions in the works.
I’m noticing a pattern here https://t.co/I69 ZV4otpp
— Doomberg (@DoombergT) June 30, 2022
The S&P had its worst very first half of the year given that 1970.
S&P 500 CAPS FIRST-HALF PLUNGE OF 21%, WORST SINCE 1970
— Walter Bloomberg (@DeItaone) June 30, 2022
United States cost savings rates are at their least expensive because 2008.
The U.S. cost savings rate was up to the most affordable because 2008 in April, “recommending development in costs will slow down:” @economics pic.twitter.com/gAsyNeVAi9
— Lisa Abramowicz (@lisaabramowicz1) June 30, 2022
The post BREAKING: BIDEN ECONOMY Officially in Recession– Key Fed GDP Tracker Turns Negative appeared initially on The Gateway Pundit
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