OK, I Get it, the US is a Service Economy, but this Looks Terrible

by Wolf Richter
Wolf Street

Recession Watch: huge brake shoe to drop on the economy.

The yield on the 10-year Treasury note fell to 1.57%, the lowest since November 2012, after the Fed got through flip-flopping today, to keep the notion of rate hikes alive without actually hiking rates. Fed officials worried about lousy job gains, terrible exports, puny investment, and Brexit, but they see inflation picking up, and they like that, though a serious bout of inflation is going to kneecap consumers, and so, the statement said, “growth in economic activity appears to have picked up.”

Just how much has that “growth in economic activity” picked up?

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