Who to Believe? Economy Looks Solid
Author: Greg Valliere
September 30, 2024
THE LATEST REPORT from the Atlanta Fed’s “GDP now” predicts a 3.1% economic growth rate in the third quarter, which ends today. The question is whether anyone believes the Atlanta Fed.
AFTER DOOM AND GLOOM OVER THE ECONOMY for several months, there are some signs that consumer confidence has improved a little, as gasoline prices drop and interest rates fall.
THERE’S NO ROOM FOR ERROR, as Hispanic voters have failed to match their vote totals in the past two presidential elections, a major problem for the Democrats. Our sense is that Kamala Harris has slipped by a point or two in the past couple of weeks. Neither Tim Walz nor JD Vance are likely to move the needle tomorrow night.
SO WE WILL BE SUBJECTED TO VERY VERY NASTY RHETORIC in the last month of the race. Trump called Harris “mentally impaired” yesterday and said she should be impeached.
WE’RE HEADED FOR A POSSIBLE Mideast war, a port strike, still another Gulf hurricane and continued attacks on Harris’ border policies.
HARRIS NEEDS something positive — she needs to make an argument that inflation is subsiding. But that’s a long-shot — the Atlanta Fed GDP thinks it’s subsiding, but ordinary voters don’t seem to agree.
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