GDP grew 1.4%, deflator 3.6% — most of the “growth” is inflation. Productivity is terrible. Forget shutdown excuses. PCE spikes, GDP crashes 68% sequentially

For those arguing the GDP data "isn't that bad" due to the gov't shutdown, the ACTUAL data DISAGREES. The GDP Deflator came in at 3.6% – meaning most of the 1.4% GDP was inflation, NOT real growth. Forget the shutdown excuse. The weakness is real, and productivity is terrible. https://t.co/W13nd3nZAh pic.twitter.com/f88eUhdNRX

— Gordon Johnson (@GordonJohnson19) February 20, 2026

Hey Jerome Powell… I see both the 'Stag'-, and the 'Flation'… in today's data. Stated differently, PCE, or the @federalreserve's favorite inflation measure, surged higher in Jan., while Q4 GDP imploded (coming in ~50% below expectations, and -68.2% sequentially). pic.twitter.com/ClPlhQU42b

— Gordon Johnson (@GordonJohnson19) February 20, 2026

The market is currently pricing in 2.23 cuts of 25bps this year, with the first cut happening at the June 30th meeting, or the first one @Not_KevinWarsh will be in his seat as new Fed Chair. https://t.co/eLpdTolubW pic.twitter.com/t3VfDwKWU3

— Gordon Johnson (@GordonJohnson19) February 20, 2026

-Supreme court rules negatively
-Core inflation is higher
-GDP is half of what it was expected

Markets… higher.

Did markets discount it all for now?

— THE SHORT BEAR (@TheShortBear) February 20, 2026

ANY higher and this is gonna be a CRAZY squeeze 👀https://t.co/p1uHcLBj4x

— Paper Gains (@PaperGainsInc) February 20, 2026