Atlanta Fed forecasts Q4 US GDP to be 2.3% indicating economy is finally cooling off whereas Cleveland forecast inflation to go 3.3% YoY.

by DesmondMilesDant

The data released by the US Bureau of Economic Analysis on October 26th showed that real GDP growth in the third quarter was 4.9 percent, 0.5 percentage points below the final GDPNow model nowcast released on October 25th. This suggests that inflationary pressures may be starting to build in the economy and could lead to higher interest rates down the road.

See also The Cleveland Fed's CPI nowcast has reached the highest level in three years. Fed futes now believe by next July there is a 75% chance of one or more rate hikes. Gas prices remain ATH’s despite falling oil prices

See also The inflation slowdown is starting to unravel