Economic Growth Slows to 1.6% Stagnating Growth plus Inflation = Stagflation. Like Bribed Joe's brain, the US economy slows to a muddle. 'The latest snapshot of the U.S. economy rattled stock and bond markets with two bits of potentially disappointing data: slower economic growth and still-firm inflation.' Gross domestic product only 'expanded at a 1.6% seasonally- an inflation-adjusted annual rate in the first quarter, the Commerce Department said Thursday. That lagged behind the 2.4% projected by economists polled by The Wall Street Journal.' They missed by a 1/3d. The surprise indicates that inflation is worse than they have been admitting. Normally the Fed would reduce interest rates to make borrowing cheaper, but with Bribed Joe's inflation, it will be more difficult to justify making borrowing cheaper. The problem is that with Bribed Joe's Insane level of Federal Spending, it requires a LOT of borrowing, and that's raising the borrowing costs for everyone else, reducing GDP and real wage growth. 'The inflation reading sparked a selloff in bonds, sending yields on the 10-year Treasury note above 4.7% for the first time this year. U.S. stocks fell, meanwhile, with the Dow Jones Industrial Average sliding more than 600 points.' It will only keep getting worse as long as Bribed Joe is stumbling around, his foreign policy is in shambles and he's making up lies about his Uncle getting eaten by Cannibals. If only he spent as much time working on the behalf of the American People as he has spent trying to jail Trump for remaining in the lead in the presidential race. Bribed Joe is the problem. Either RFK or Trump are the solution.
on a positive note. Its forced me to be healthier. One can only get so many $30 dollar burgers before saying "Enough, its rice and beans time"
It costs $30 for a burger where you live? Do you live in CA? I live in MA in rural area and a burger with a side is $19 at one local place. Sucks for you that you can’t afford more than “rice and beans” now. You made your choices…now gotta live with them I guess.
Oh yes of course.... We know, it's all those evil Republicans fault and there's not a damn thing that Democrats do that ever contributes to inflation. You can keep selling that rotten fish all you want but the problem is, is that no one who isn't already buying, is going to buy that poppycock
they choose to raise the interest rates, and made the mistake of saying out loud it was to keep wages low
I'm sure the policies of the Democrats who control the majority of the government have nothing to do with any of it
it was related to global supply issue due to covid, greed Corporations, Trump tariffs and the Interest Rates
Bribed Joe's Folly “This was a worst of both worlds report — slower than expected growth, higher than expected inflation,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “The biggest setback is the acceleration in core inflation, and in particular, the services sector rising above a 5% annual rate.” https://www.foxbusiness.com/economy/us-gdp-economy-first-quarter-2024
