Wednesday, April 29, 2015

The slow recovery has come to a halt

From the last press release of the Bureau of Economic Analysis (BEA):
"Real gross domestic product -- the value of the production of goods and services in the United States, adjusted for price changes -- increased at an annual rate of 0.2 percent in the first quarter of 2015, according to the 'advance' estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.2 percent."
So basically zero growth. And some people want higher rates of interest to preclude the danger of inflation. Oh brother.

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