US falls into technical recession

  • US GDP growth slumped to -0.9% qoq (ar) in Q2, much lower than the Bloomberg consensus expectation of +0.4%

  • The big story is that the US has fallen into recession, at least under the technical definition

  • We think this won't change Fed policy while inflation is still too high, but it may pivot if a real recession draws near

US falls into technical recession
Stuart Culverhouse
Stuart Culverhouse

Chief Economist & Head of Fixed Income Research

Tellimer Research
29 July 2022
Published byTellimer Research


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