Global Economic Report

Peak Optimism?

The Atlanta Fed’s GDP Now estimate for the first quarter GDP is for the economy to grow by 2.1%, so no sign of a real slowdown yet, and Wall Street expects earnings to be up by 15% by the first quarter of 2025. Wall Street has adjusted to the new reality that the FOMC won’t be cutting the Funds rate by 7 times in 2024 since the economic outlook is sanguine. Concerns about Commercial Real Estate linger, but have been relegated to the back burner. If the economy slows more than expected, banking problems associated with CRE loan defaults later this year and in 2025...

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