Graham Stephan, relaying Federal Reserve: GDP will fall to 0.5%

The window it was checked over

Real GDP: U.S. Bureau of Economic Analysis via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

What was said around it

didn't price in was the fact that the Federal Reserve expects to extend the rate hikes into 2023 without dropping them back down see in September they projected to Target federal funds rate of 4.6 percent meaning we'd likely have one or two more raid hikes left and then we're done but now they've revised that upwards to 5.1 percent suggesting that we've still got a long ways to go and that inadvertently caused the stock market to fall while it readjusted to some new information in addition to that the Federal Reserve also reduced their anticipated GDP from 1.1 percent growth in 2023 down to half a percent basically hinting that we could continue to see an economic contraction over the next 12 months however in the sea of the stock market turning red there is some good news in the fact that Jerome Powell admitted to being flexible and taking the approach of implementing smaller rate hikes throughout 2023 so as to fill out the economy and not overdo it that way we're not likely to have any abrupt 75 basis point rate hikes and smaller rate increases will allow us to still fight inflation without losing everybody money ultimately though they're still just as committed to fighting inflation and

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