The Commerce Department released its third and final estimate of 2Q GDP this morning, showing a modest improvement from the previous report. Today’s report shows 2Q GDP rose 1.3 (annual rate), up slightly from 1.0% in the last report. This number was slightly better than the pre-report consensus of 1.2%. Today’s GDP report probably serves…
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The stock markets are telling us something. Stock markets around the world have fallen off a cliff since late July. As this is written, the Dow Jones Industrial Average is down almost 18% from the peak. The markets plunged after the Fed’s policy announcement on Wednesday afternoon and again on Thursday. The S&P 500 Index…
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