Must-Read: Does anybody think that if the FOMC back last December had known how December and January would turn out that it would have raised interest rates then? Given that they would not have, why are they not intending to lower interest rates now at this meeting?
Macro Advisers: Tracking the not-very-covery:
Must-Read: Macro Advisors is currently at a 2.5%/year real GDP growth rate forecast for the fourth quarter of 2015, a 1.5%/year tracking estimate for the third quarter of 2015, 3.9% for the second quarter, and 0.6% for the first quarter. That’s 2.1% for the year–that’s not an economic growth rate that would make anyone think that inflationary pressures are building in the mantle underneath even though they are not visible anywhere in the crust:
: GDP Tracking: