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According To The NY Fed, US Has To Grow At 3.8% In Second Half To Hit The Fed's GDP Forecast

According To The NY Fed, US Has To Grow At 3.8% In Second Half To Hit The Fed's GDP Forecast

Earlier today we reported that in its inaugural Q2 GDP nowcast, the Atlanta Fed expects 1.8% for Q2 GDP, a substantial rebound from the first official Q1 GDP print of only Q1. We also said that we expect this number (which is already 0.5% below the consensus estimate) will drop substantially in the coming weeks. Well, moment ago the New York Fed, which apparently has picked up the baton of the "most bearish regional Fed" released its own first Nowcast for Q2, in which it sees Q2 GDP growth of only 0.8%, or 1% below that of its fellow Fed.

This is why:

Head Of Deutsche Bank "Integrity Committee" Fired Due To "Overzealousness"

Perhaps it is merely a coincidence but just weeks after Deutsche Bank became the first bank to admit to rigging the gold market (and agreeing to rat out fellow manipulators) yesterday afternoon the head of Deutsche Bank's "integrity committee" announced he would resign two years before his time, which is a polite way of saying he was fired.

As the FT reports, Georg Thoma has been fired from Deutsche Bank’s supervisory board two years before his contract ends "after coming under fire from other board members in a battle over how to deal with the German bank’s past scandals."

Atlanta Fed Unveils First Q2 GDP Forecast, Sees 1.8% Growth, 0.5% Below Wall Street Consensus

Atlanta Fed Unveils First Q2 GDP Forecast, Sees 1.8% Growth, 0.5% Below Wall Street Consensus

After being just fractionally above the official Q1 GDP print which yesterday came in at 0.5%, moments ago the Atlanta Fed unveiled its first Q2 GDP estimate which it sees at 1.8%, roughly 0.5% below the sellside average estimate of 2.3%, and just in line with the lowest forecast.

From the Fed:

Latest forecast: 1.8 percent — April 29, 2016

 

Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards

Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards

Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards

James Rickards, economic and monetary expert, joined Bloomberg’s Francine Lacqua on Tuesday to discuss the gold “chart of the decade”, his new book “The New Case for Gold,” why gold is money and why gold is going to $10,000/oz in the coming years.

Gold in USD – 10 Years (GoldCore)

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