The Fed stated that it would follow the gross domestic product (GDP) and PCE index data for a rate hike. These data show that a minimum interest rate increase of 75 bps is needed. Also, the GDP data does not look good for the September 29 release. Here’s everything you need for MACRO analysis: $SPY #GDP pic.twitter.com/z2YnDTcE5C
— Userofintellect 🇺🇦 (@userofintellect) September 21, 2022
The Atlanta Fed predicted that GDP will have NEGATIVE growth for the third consecutive quarter this year.
The recession is real. Depression is becoming more likely.
How will fake news do it?
The Atlanta Fed has just predicted that GDP will have negative growth in the third quarter. That’s 3 quarters in a row that our GDP has shrunk.
— Charles Sutton (@CharlesMSutton) September 21, 2022
The air comes out of the bubble.
The Atlanta Fed predicts another quarter of negative growth. pic.twitter.com/g7hzJPsHxd
— Pat Knight (@Tacflame1) September 21, 2022
JEFFREY CARTER: Joe Biden’s economy is like Groupon: half. “If you owned the S+P 500 ($SPY) on January 1st of this year and didn’t sell it, your return is -17.25%, including dividends that were reinvested. That’s a gain annualized -24.12%. For what it’s worth, the 2008 drop was 50%. Hey, we’re halfway there! That’s something, isn’t it? It’s not the Republicans’ or Trump’s fault. It’s just the lap of Joe Biden and the Democrats. The buck stops with them. They instituted the green energy policies and all the stupid spending. . . . Meanwhile, all the Democrats can talk about is abortion, regardless of the state you’re in. No one cares when you can’t feed yourself, walk down the street without the threat of assault, or afford to heat your home.”
IT’S ALL GONE: Existing home sales fall in August and prices soften significantly.
Related: Goldman Sachs says it’s bracing for an even bigger housing slump.
That’s not all bad, as the prices were too high, really. But it is further evidence that we are entering a recession, if we are not already there.
h/t The MAGA Patriot