Didn’t this same Fed group that said Quarter 1 was going to be 5%? Off by more than half.
No I never heard that from the Atalanta Fed?
This is the highest I have ever heard from a Fed in my life time.
Yes actually. Atlanta Fed projected a 5.4% growth rate for the first quarter.
You mean like this.
Atlanta Fed Sees GDP Rocketing To 5.4% In First Quarter (Trumps’s Economy)
https://www.freerepublic.com/focus/f-news/3628457/posts
Actual for 1Q18 is 2.2%.
The 4Q17 GDPNow forecast opened at 4.7% ended at 3.4%. Actual was 2.9%.
The Atlanta Fed's GDPNow tool forecasts GDP growth at a specific point in time based on economic conditions on that date. The forecast changes weekly, sometimes daily, as new information comes in. The forecast could be lower on Friday or it could be higher.