Yesterday, the Atlanta Fed lowered their forecast for Q1 GDP to -2.8%.
Last Friday, they lowered to -1.5%.
Before that, it was +2-4%.
The Trump depression is accelerating at an alarming rate, and we're all in the crosshairs, regardless of political ideology or identity.
They told us hardship was coming.
@fg That slippery slope belongs on a ski mountain, not an economic discussion.
They can only really forecast based on the previous day's insane Trump statements, so at any given point those are accurate to the info available
So Atlanta Fed have no clue...likewise told earlier about inflation that it wont spike.
So...
Yesterday, the Atlanta Fed lowered their forecast for Q1 GDP to -2.8%.
Last Friday, they lowered to -1.5%.
Before that, it was +2-4%.
and tomorrow, it will be (out of nowhere) -10%
and day after -25%
LOL...
I have lost faith in Fed and economists. Looks like they behave just like media and run as political propaganda machines...as an example Fox for Republican and rest for Democrats.
D-mbest post of the year. Trump's net worth went DOWN during his first term. You're projecting for your D Congress critter overlords. Make $175k, wind up with a network over $100M in 5 or 10 years. Go ahead and make it make sense. GD lies.
For those of you who think the Elon or orange man are doing anything that will help out anyone making under $500k a year, need to check yourself into a mental hospital. He’s driving policy that will only make himself richer, period. This economy is going to tank quickly and most Americans are going to feel it. Economists called it during the election and now it’s being implemented.
Wells Fargo's second annual Money Study reveals that 76% of Americans are cutting back on spending, up from 67% last year, with even higher percentages among Gen Z (82%) and Millennials (79%). About 60% of Americans report making tough financial choices, with 55% delaying life plans - primarily travel (74%), home renovations (39%), relocation (30%), and buying homes (30%).
The study found that 90% of consumers experience "sticker shock" with prices between 55% and 200% higher than expected for common purchases. Despite financial challenges, 86% of Americans have clear financial goals and want to align money choices with their values.
Interestingly, while 87% of Americans say they don't judge others' financial circumstances, 56% keep their own finances secret, and 53% feel stress about others knowing their financial situation. Many respondents (47%) admit feeling envious of others' wealth.
Americans increasingly seek financial advice (36%, up from 24% last year), with higher percentages among teens (54%), Gen Z adults (61%), and Millennials (46%). Overall, 83% want to learn new ways of thinking about and handling money.
https://www.stocktitan.net/news/WFC/consumers-continue-to-navigate-persistent-inflation-by-changing-life-z0deqp6vofyl.html
Don't forget $1.5M to promote DEI, in Serbia. No waste at all folks, none!
@bg you're not very good at this. Claiming that government waste (of which, even DOGE admits it's not finding much, once they actually understand what they're looking at) is the same thing we're complaining about is about the weakest straw man argument you can make.
Tariffs are completely separate from DOGE, and every single economist (outside of Trump's id--t staff) has explained clearly that tariffs are a tax on every US consumer. Add to that people who run import/export businesses talking about how they pay the tariff on imports, then pass it on to consumers... Your cost of living goes up with every tariff.
I guess you're a fan of the socialism Trump 1.0 gave out to the farmers whose markets he destroyed with tariffs? If you like paying for other people so much, why do you talk about socialism like it's evil?
Consider that the US is a consumer-based economy, and you're making everything more expensive for consumers, while cutting incomes with layoffs, how does that translate into a good economic outcome?
I can't wait to see your mental gymnastics to justify it.
The only thing being cancelled is corruption. If our entire economy is dependant on that, we've got problems. I know your masters have ordered you to hit the streets to protest all the "illegal firings" and cuts, but no one else is buying the theory that government isn't hideously wasteful. Both parties have been robbing us blind forever, but here you are cheerleading the continuation of the theft. You're pAyInG aTtEnTiOn alright, to your corrupt slave masters.
Tariff won't help the low/middle income initially. Will suffer great pain. But he has be firm and continue his stand without rolling back. I guess that Top 1% will become more rich. I hope they invest the money here in our country and create more employment. He has to stop the money going out of country in the form outsourcing/foreign investments. Let us hope for the best.
Was the hardship happening when tariffs were introduced in his first term?
@a5 Yeah, cancelling billions in subsidies to US farmers (USAID, Food stamps, WIC) will have zero effect on the economy. Just like raising auto prices by 25% will not affect US consumers, who already can't afford current auto prices.
Stay in your echo chamber if you want to, but don't believe you can BS the rest of us who are paying attention.
Trump depression. lol, literally not a single bill has been signed or budget passed. This is still the Biden economy. Really the only thing a president can do in their first few months is impact sentiment, but real economic data will catch up with even that. If our entire economy hinged on a few corrupt contracts being cancelled, then yes, we are headed for a very bad place indeed.
@a2+1jnhevf8f - try to improve your vocabulary. Learn new words. String them together from time to time to express higher mental faculties.
What do you expect when the g-n lands in the hands of an orangutang.
Troll