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.


Q2 GDP slowed from Q1.

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


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


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

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