by Anthony B. Sanders
Anthony B. Sanders’ Blog
The Bureau of Economic Analysis has released their revision of Q2 GDP. It was revised downwards to an anemic 1.1%.
As a reminder, gross private domestic investment fell -9.7% in Q2, the worst reading since 2012.
[…] At the same time, core personal consumption growth QoQ rose to 1.8%.
[…] With core PCE growing to 1.8% QoQ, we would expect an increase in the Taylor Rule estimate of The Fed Funds Target rate (ceteris paribus).