US Q2 GDP Checks In At 2% QoQ, Pending Home Sales Rebound To 1.6% MoM (Fed Rate Cuts Still On Table Thanks To Macro Woes)

US Q2 GDP (3rd estimate) checked in at 2% QoQ.

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Q2 GDP slowed from Q1.
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Despite positive economic news, impeachment hysteria and international economic slowdown may jolt The Federal Reserve into another rate cut at the October FOMC meeting.

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The forward curve for Effective Fed Funds (dashed orange line) is decidedly downward sloping.

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The Cass Shipment index is down to Obama-era readings.

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