Recovery! The mantra of the Federal Reserve and mainstream pundits parroting the party line. But it appears that like poll numbers given prior to Presidential elections, when all the votes are counted, what was forecast for months leading up to the end of a cycle was much different than the actual outcome.
For most of 2015 the Fed and big bank analysts predicted an annual GDP growth rate between 2.5 – 3%. But a new report published on Jan. 4 by the Atlanta Fed shows that not only is GDP growth looking to be below 2% for last year, but it will be as much as six bps below the dreadful number that ended 2014.