Peter Nayland Kust on Substack: "Powell is delusional. Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditio…"

Powell is delusional.

Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated.
The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.

federalreserve.gov/news…

The suckage in the first quarter was too great even for the BEA to spin, and Powell thinks he can just BS past it?

All Facts Matter

First Quarter GDP Data: Recession In All But Name

May 3, 2023

6:05 PM