It’s official! The Biden economy stinks!
US real GDP growth for Q1 slipped into negative territory (-1.4% QoQ) while GDP price growth rose to 8%. So, negative real GDP growth is negative coupled with horrid inflation.
Personal consumption expenditures were below expectations at 2.7%.
Now that the Biden Administration has created an old Soviet Union-style Ministry of Disinformation (called the “Disinformation Governance Board”), I hope that I don’t get censored for reporting that the Biden economy officially stinks.
Good luck to The Federal Reserve in withdrawing the monetary stimulus.
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