GDP Update -- Third Reading, 2Q23 -- October 20, 2023

Locator: 45835GDP.

Link here. GDPNow running 5.4%.

2Q23 ended June, 2023. We're only now getting the "third reading" -- four months out, which suggests we will get the "third reading" for 3Q23 at the end of January, 2024.

Third reading for 2Q23 -- note -- second quarter.

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VAT

The Fed is the US version of the European "VAT" tax.

And that's why "higher for longer" is in the cards.

I don't think folks understand.

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