GDP -1.4 %
- Thread starter SIXERS24
- Start date
It’s the headline on CNBC’s page:
Prices increased sharply during the quarter, with the GDP price index deflator rising 8% in the quarter, following a 7.1% jump in Q4.
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While recession expectations on Wall Street remain low, there’s further trouble ahead for the economy: In an effort to combat burgeoning price increases, the Federal Reserve plans to enact a series of rate hikes aimed at slowing growth further. The personal consumption expenditures price index excluding food and energy, a preferred inflation measure for the Fed, rose 5.2% in the quarter, well above the central bank’s 2% inflation target.
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Along with that, the Fed has halted its monthly bond-buying program aimed at keeping rates low and money flowing through the economy. The Fed will start shrinking its current bond holdings as soon as next month, slowly at first then ultimately at a pace expected to hit as high as $95 billion a month.
That sucks. Hopefully we do better next quarter.
With this news I think the government should take the step of forgiving all mortgages under $500k
I'm sure it will be tempting, especially if things don't improve a lot the next 2 quarters.
Recession expectations on Wall Street remain low? How could they write that?
That would not be fair, some that are not deemed worthy might benefit, progressives would not approve. Maybe those that progressives deem worthy under $500k?
Sure pumping more money in would help GDP, probably not assist with inflation. All that free Covid money did a number on inflation
I can't wait to hear how Jen spins this one. Pandemic? Supply Chain? Putin? Trump? Anyone want to give odds?
Biden Administration is firmly driving the U.S. economy off of a cliff.
Oh yeah? Well tell me, sir, do you want to live in a country that has a good economy but still uses older style light bulbs? Not me!
This feels like one where she will start out with, "Now...remember where we started and who the last president was..."
If GDP rebounds next quarter, will you change your position? Do you guys think this is directly attributable to Biden's policies and decisions?
There are a lot of things that happen due to a lack of attention or poor priority ranking, as well. The border mess is one example.
Yes. Absolutely.
If inflation, gdp and govt debt improves I will say biden did good.
I assume they meant for this year. Most Wall Street forecast were for mid to late 2023, which I thought was crazy as I was thinking we would be in one by the end of the year. Looks like it could come sooner. We shall see. I suspect this number will be revised, but not by 1.4%.
In typical Biden spin fashion, I fully expect a further drop of -0.6% next quarter to be considered a 'win'.
LOL ok. The last president who made a dent in national debt was Clinton.
If inflation goes down, GDP returns to positive growth, and debt was reduced, you guys know you would just find something else to complain about.
If GDP recovers, I expect to hear nothing about it from you guys. Similar to the jobs reports. There's always a thread when they are negative and the numbers are ignored when they are positive.
Yes.
The real GDP print is negative because inflation is at absurd levels, and Biden is calling for policies that will mean even more federal debt, which is fuel on the inflation fire.
We’ve added 2 trillion dollars of debt since the fiscal year started October 1st.
OP please change thread title to
This might be a little tougher than Old Joe thought...
Not many people lol.
Guessing cnn talked to joes economists who predicted inflation would slow down late last year.
We elected a vegetable.
Prices increased sharply during the quarter, with the GDP price index deflator rising 8%, following a 7.1% jump in Q4.
The decline in growth came due to a deceleration in private inventory investment, which helped propel growth in the back half of 2021. Other restraints came from exports and government spending across state, federal and local governments, as well as rising imports.
An 8.5% pullback in defense spending was a particular drag, knocking one-third of a percentage point off the final GDP reading.
Consumer spending held up fairly well for the quarter, rising 2.7% as inflation kept pressure on prices. However, a burgeoning trade deficit helped shave 3.2 percentage points off growth as imports outweighed exports.
U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit
Gross domestic product unexpectedly declined 1.4% in the first quarter, an abrupt reversal for an economy coming off its best performance since 1984.
It seems this is mostly due to an increase in imports as businesses are trying to improve their inventories. Last quarter goods were bought here, this quarter businesses had to go outside of the country.
Not many people? What is that in reference to?
The people chose Biden over an angry child. It was an easy choice.
With prices increasing steadily people want to purchase before prices go up more which causes prices to go up......
We're in a circular firing squad at the moment....
