Must-Read: Dean Baker: Growth Falls Off Sharply in Third Quarter

Must-Read: Dean Baker: Growth Falls Off Sharply in Third Quarter: “The economy grew at a 1.5 percent annual rate in the third quarter…

…a sharp slowing from the 3.9 percent rate reported for the second quarter…. For the first three quarters of the year GDP has risen at a 2.0 percent annual rate…. There continues to be no evidence of inflationary pressures in any sector…

A 2.0%/year growth rate over the past three quarters, a 2.1%/year growth rate over the past four quarters, a 2.9%/year growth rate the year before (2013:III-2014:III), and a 1.6%/year growth rate the year before that (2012:III-2013:III).

The case for tightening monetary policy is not obvious, to say the least…