With 2017Q1 real GDP growth currently forecast at a 1.2% annual rate—down from 2.7% expected last December—it is worth pausing to remember that if that number comes true: 4Q real GDP growth is: 2.0%/year 8Q real GDP growth is: 1.9%/year Maybe this is an economy in which slow productivity growth is constraining expansion. But if … Continue reading Will Somebody Please Tell Me Again Why the Federal Reserve Has Embarked on a Tightening Cycle?