The Cracks Widen – GDP Update, Q1 2023
We’ve said (and reiterated) that the Fed would break something before it reached its 2% inflation goal. We saw a small break with the recent Silicon Valley Bank and Signature Bank failures. Now, we’re seeing those cracks widen with a lower-than-expected Q1 2023 GDP growth rate of 1.1%. But the story isn’t all doom and …