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The US Economy Continues To Crush It
The economy US is absolutely crushing it and this reinforces portraying the FOMC as being on hold for some time in the wake of yesterday’s decision. Key here is what is under the hood. US consumer spending grew rapidly and so did final domestic demand as a measure of underlying momentum in the domestic economy. GDP disappointed a touch, but only in relation to lagging estimates before we got yesterday’s inventory and net trade balance figures and inventory shedding isn’t necessarily a bad thing. A strong demand side and weak investment while shrinking the labour force through emergent changes to immigration ... (full story)
