More Positive Economic News
This is a wrap-up after the close.
The 2023 stock market is more about upward production surprises than upward inflation surprises. 2 % inflation is just an old dream.
Today the GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2023 is 2.7 percent on February 24, up from 2.5 percent on February 16. Plus personal incomes are up.
The result was predictable, good production numbers scare the FED. We will just have to weather this knee jerk action. Will let you know when we get a signal that markets are taking on the FED. It will probably be after next week’s employment report.