The NY Fed Just Cut Its First Half GDP Forecast To 1.0%
by Tyler Durden
ZeroHedge.com
04/15/2016
The New York Fed’s ‘decidedly-more-optimistic-than-Atlanta-Fed’s-GDPNow-model’ NowCast model for GDP growth just tumbled back to reality after a week of dismal data finally forced its hand. Treasury bond yields are extending their tumble as NYFed slashes Q1 growth to just 0.8% (from 1.5% in Feb) and collapsed Q2 growth to 1.2% from 1.9% last week. This cuts the entire H1 estimate from 1.5% to 1.0%… shamed down to GDPNow’s reality.
The Rest…HERE
