Friday’s the day that the Federal Reserve will be embarrassed — yet again.
The Commerce Department, at 8:30 a.m. on Jan. 29, will announce how healthy the US economy was in the fourth quarter — and the answer is expected to be “not so good.”
In fact, according to the Atlanta Federal Reserve Bank, the nation’s economy, or gross domestic product, grew at just a 0.7 percent annual rate in the final three months of 2015.
That’s not the official number — the official one will come on Friday from Commerce. The Atlanta Fed keeps running tabs of what the number should be, based on data already in circulation. They call it GDPNow and, so far, it has been pretty accurate.
Some Wall Street economists have GDP forecasts that are even lower, much lower — like negative numbers lower.
So why will the Fed be embarrassed?
http://nypost.com/2016/01/28/a-humiliating-day-awaits-the-federal-reserve/
The Commerce Department, at 8:30 a.m. on Jan. 29, will announce how healthy the US economy was in the fourth quarter — and the answer is expected to be “not so good.”
In fact, according to the Atlanta Federal Reserve Bank, the nation’s economy, or gross domestic product, grew at just a 0.7 percent annual rate in the final three months of 2015.
That’s not the official number — the official one will come on Friday from Commerce. The Atlanta Fed keeps running tabs of what the number should be, based on data already in circulation. They call it GDPNow and, so far, it has been pretty accurate.
Some Wall Street economists have GDP forecasts that are even lower, much lower — like negative numbers lower.
So why will the Fed be embarrassed?
http://nypost.com/2016/01/28/a-humiliating-day-awaits-the-federal-reserve/
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