Data Point: And we were told that 2% was to be the new normal

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Atlanta Fed estimates U.S. third-quarter GDP growing at 4.0 percent

NEW YORK (Reuters) – The U.S. economy is on track to expand at a 4.0 percent annualized pace in the third quarter with inventory investment contributing 1.12 percentage points to growth, the Atlanta Federal Reserve’s GDP Now forecast model showed on Thursday. Last Friday, the government said its first reading on the gross domestic product in the second quarter was a 2.6 percent growth pace, which was 0.2 point below Atlanta Fed’s final estimate.

I’m so old that I remember when an Administration says that was unachievable.  Oh wait!

I also remember somebody else laughing at that new normal.

(H/T: Reuters)

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  • Skip
    Skip

    Co-founder of GraniteGrok, my concern is around Individual Liberty and Freedom and how the Government is taking that away. As an evangelical Christian and Conservative with small "L" libertarian leanings, my fight is with Progressives forcing a collectivized, secular humanistic future upon us. As a TEA Party activist, citizen journalist, and pundit!, my goal is to use the New Media to advance the radical notions of America's Founders back into our culture.

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