This GDP projection from the Atlanta Fed has come way down for the 1Q from when it was first published. IIRC they were a bit above 4% while we just reported a 2.3%.You can't end 4Q with a change in tax POLICY that forces a B (4%) markdown in capital at the depositories and still expect things to carry on iaw the 4Q growth trend sorry.That tax bill simply was not well thought out... I hope this short term effect of the change in policy effecting B of certain financial asset values is all that is damaging about it...We'll have to see how long it takes the depositories to recover from this; they seemed to have made progress towards recovery in 1Q and reported strong profit growth but effects may still linger here into the 2Q.RT movement_cap: atlanta fed gdp now 5.0% -> 2.0% in two
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
NewDealdemocrat writes Weekly Indicators May 6 – 10 by New Deal democrat
Angry Bear writes A Bit of History by a Friend from Slate’s “The Fray”
Angry Bear writes Oil industry is Writing Executive Orders for Trump to Sign
Angry Bear writes 2024 SOCIAL SECURITY REPORT IS OUT THE MEDIA MISS THE POINT
This GDP projection from the Atlanta Fed has come way down for the 1Q from when it was first published. IIRC they were a bit above 4% while we just reported a 2.3%.
You can't end 4Q with a change in tax POLICY that forces a $40B (4%) markdown in capital at the depositories and still expect things to carry on iaw the 4Q growth trend sorry.
That tax bill simply was not well thought out... I hope this short term effect of the change in policy effecting $40B of certain financial asset values is all that is damaging about it...
We'll have to see how long it takes the depositories to recover from this; they seemed to have made progress towards recovery in 1Q and reported strong profit growth but effects may still linger here into the 2Q.
RT movement_cap: atlanta fed gdp now 5.0% -> 2.0% in two months pic.twitter.com/6OmZgDxiEn
— Robert Hyndes (@trhyndes) April 26, 2018