Huge "Beat" For 4Q23 GDP; Even Beat GDPNow By 90 Basis Points; Market Looking For 2% -- Actual: 3.3% -- "Recession Is Receding"

Locator: 46641B.

Can't wait to listen to Jim Cramer in a few minutes, starting at 8:00 a.m.

3.3% vs 2.0% estimate. 

Much, much higher than GDPNow.

Former Dallas fed president:

• "recession is receding"
• Fed should be congratulated
• doesn't see any reason to "act." Doesn't see any reason to cut rates. [I agree 1,000%. My mother would love the "higher" interest rates and my father would love the equity market.]
  
• "why cut": the Fed rate is in the "normal" range
• economy: doing well
• Powell won't make any Fed decisions based on political considerations; in fact, he will avoid even the perception which means possibility of no change in Fed rate until after November election;
• economy, when asked directly: A+
• inflation coming down; "everyone" has a job; GDP numbers huge.
  

Huge numbers across the board. Will post full numbers when available. For now, just go to the initial links below.

Market after GDP numbers released: all indices move up slightly. 

Barron's: link here.

The WSJ: link here. 

Back to CNBC panel:

• "Goldilocks." LOL.
• Steve Liesman: "it's very good."
• retail inventory surging
• new growth in GDP has nothing to do with inflation!
• all about supply chain
• inflation "well behaved"
• companies reaping benefits from technology employed to fight high costs
• are folks working from home more productive
• people with more money in their pockets
• grudgingly says the word "Goldilocks." Doesn't want to "jinx it."
  
• other analysts
• amazed by a great number; 
• inventory extremely strong number 
• core inflation declining close to Fed's target
• real wage gain among lowest economic group; biggest marginal spenders
• only risk now: Fed takes too long to cut
• unable to understand underlying pessimism the last several years
  
• PCE price index: 1.7%
• core PCE price index: 2.0%
• the words "blockbuster," "Goldilocks," "amazing," keep popping up.