DUPLICATIVE GOVERNMENT TRACKS TANKING ECONOMY …
Talk about double trouble …
The federal government’s secretive central bank now has not one but two of its branches tracking America’s economic growth in “real time.”
One of these measures – the Atlanta Federal Reserve’s GDP Now – is obviously an indicator we’ve been tracking for some time. This estimate of gross domestic product expansion (or contraction) was humming along at 2.7 percent as recently as two months ago, but has since tanked. The latest reading? A measly 0.3 percent growth.
Want a second opinion? Now you can get one courtesy of the Federal Reserve Bank of New York (FRBNY) – which has just launched its own “real-time” economic tracker called the “FRBNY Nowcast.”
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
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