The Atlanta Fed’s GDPNow Q2 Real GDP estimate was -2.1% as of July 1st. This marks the second consecutive negative Real GDP quarter which means we are officially in a recession.
A recession in 2022 was an easy call for us to make as there was essentially zero probability of the U.S. economy growing in 2022 after the enormous fiscal-driven growth of 2021. Fiscal-driven growth is artificial and unsustainable, especially when it is driven by mailing checks to consumers. Not checks funded by productivity gains, but checks funded by the Fed printing money out of thin air.
Click HERE to view the full GDPNow release.
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