Economy booming

Cratic3947 · 2018-07-17T16:32:45.296Z

He said…

"Powell made brief mention of the ongoing trade war between the U.S. and its global competitors, saying only that it is “difficult to predict” what the ramifications will be on the economy.

However, the “upbeat tone” from the testimony likely means the trade issues won’t keep the Fed from hiking rates, said Andrew Hunter, U.S. economist at Capital Economics."

They left out the part where he said “We don’t want countries putting up barriers to our goods”…

SottoVoce · 2018-07-17T16:43:20.961Z

Cratic3947:

"“Overall, we see the risk of the economy unexpectedly weakening as roughly balanced with the possibility of the economy growing faster than we currently anticipate,” Powell said.

So, 50/50 chance the economy weakens versus grows faster than expected. Bold prediction there.

Here’s reality. The stock market has been flat for 7 months and inflation is at a 6 year high, outpacing wage increases. I hope the economy improves, but I don’t have rose colored glasses on yet.

DougBH · 2018-07-17T16:44:47.218Z

The economy?..pfffft…
What news from Stormy?

tnt · 2018-07-17T16:56:35.813Z

If the economy is booming, why do we need a trade war?

Cratic3947 · 2018-07-17T16:57:07.157Z

tnt:

If the economy is booming, why do we need a trade war?

It’s the best time to have one.

tnt · 2018-07-17T16:58:09.206Z

why?

123456789

conan · 2018-07-17T16:59:48.198Z

Their is no trade war…trade rebalance will take it’s place.

floydefisher · 2018-07-17T17:02:13.942Z

Here, let me help you, courtesy of the Atlanta Fed:

Latest forecast: 4.5 percent — July 16, 2018

Sound like a growing economy to you? Glad to help.

floydefisher · 2018-07-17T17:03:33.526Z

Because Trump is a freaking idiot…and I’m so glad I didn’t vote for him.

Cratic3947 · 2018-07-17T17:15:50.079Z

tnt:

why?

123456789

It’s not obvious, why? You have more leverage than during a down turn. You can absorb more blows to the economy, if they happen.

Cratic3947 · 2018-07-17T17:20:38.605Z

floydefisher:

Because Trump is a freaking idiot…and I’m so glad I didn’t vote for him.

Bernie was saying the same stuff…

Cratic3947 · 2018-07-17T17:28:34.645Z

“‘Several years’ of strong jobs, low inflation still ahead”

U.S. – 17 Jul 18

Fed's Powell: Years of strong jobs, low inflation still ahead

Federal Reserve Chairman Jerome Powell said on Tuesday he sees the United States on track for years more of steady growth, but was challenged in a congressional hearing by senators worried the Trump administration's trade policies were already...

Another article on our great economy and that’s it’s going to continue… Poor libs have to hate good news.

SottoVoce · 2018-07-17T17:32:12.299Z

floydefisher:

Here, let me help you, courtesy of the Atlanta Fed:

Latest forecast: 4.5 percent — July 16, 2018

Sound like a growing economy to you? Glad to help.

We’ll see.

The Atlanta Fed (GDPNow forecast) predicted Q1 2018 GDP growth would be 5.4% and it turned out to be 2.2%. Not sure I’d put a whole lot of stock in their predictions at this point.

Adam · 2018-07-17T17:35:52.171Z

I still think Moodys is the best. But I can’t find their latest estimate. Here is another estimate as of now:

Forexlive | Forex News, Technical Analysis & Trading Tools

NY Fed GDPNowcast estimate for 2Q GDP comes in at 2.8%, unchanged

GDP forecast moves higher in the current week The New York Fed GDPNowcast estimate for second-quarter GDP growth came in at 2.8%. That is unchanged from last

Now that seems low to me. Personally somewhere between 3 and 4% seems pretty likely.

floydefisher · 2018-07-17T17:47:38.309Z

And that makes it somehow smarter?!?!

I don’t care who says it, protectionism is retarded.

Hillary was for it too, so she wouldn’t have been any better either.

floydefisher · 2018-07-17T17:53:38.095Z

It’s not an actual forecast, GPDNow from the Atlanta Fed is what is actually happening in that moment in time.

Best time to read it is towards the end of the quarter as that has more data than the start of a new one…but it’s not that far off.

SottoVoce · 2018-07-17T17:57:18.037Z

floydefisher:

It’s not an actual forecast, GPDNow from the Atlanta Fed is what is actually happening in that moment in time.

Best time to read it is towards the end of the quarter as that has more data than the start of a new one…but it’s not that far off.

False.

atlantafed.org

GDPNow

Provides a "nowcast" of the official GDP growth estimate prior to its first release.

Our GDPNow forecasting model provides a “nowcast” of the official estimate prior to its release by estimating GDP growth using a methodology similar to the one used by the U.S. Bureau of Economic Analysis.

GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter. There are no subjective adjustments made to GDPNow—the estimate is based solely on the mathematical results of the model.

NuffSaid · 2018-07-17T17:59:33.496Z

Did we start paying off some of that grandchildren-crushing debt?

altair1013 · 2018-07-17T18:22:13.139Z

tnt:

If the economy is booming, why do we need a trade war?

If? Why do you use the word if? It is booming. Be thankful and enjoy!

Oryx · 2018-07-17T18:24:46.418Z

So why do we need a trade war?