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Atlanta Fed shock sounds ‘Trumpcession’ warning

If you haven’t heard the term before, you will now, as a closely watched real-time U.S. economic weathervane is signalling that GDP is shrinking at the fastest pace since the pandemic lockdown.
The Atlanta Fed’s GDPNow model estimate for annualized growth in the current quarter was a stunning -2.8% on Monday, down from +2.3% last week. A month ago the model showed that growth in the January-March period was tracking close to +4.0%.

By Jamie McGeever

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