GROSS GDP

The latest 24Q3 GDP estimate from the Atlanta Fed is 2%, down from 2.9% a week ago. Similarly, the NY Fed sees 1.8%, down from 2.2%, and the St. Louis Fed sees 1.3% growth, down from 1.6%. Averaging the three suggests 24Q3 GDP growth will be a weak, non-inflationary, but non-recessionary 1.7%. It’s good Powell will start cutting rates in three weeks, one day, and 18 hours, but who’s counting?