By Jacob Gaffney | HousingWire
It may be a bit early to tell for sure yet, but the sky is probably, definitely falling in an economic sense and we should probably all start panicking.
At least that’s my takeaway from this great economic wrap of last week’s events from Mark Pender, senior editor at Econoday.com. And, in reality, things aren’t that bad if one looks closely at the data provided.
This is from the note, titled “Turn for the worse:”
The week saw an unrelenting rush of bad economic news, starting with continued weakness in inflation and including trouble for consumer spending, consumer confidence, housing, manufacturing and inventories. The week also saw the Federal Reserve carefully follow their script, removing stimulus as planned on the assumption that inflation and the economy will improve. But are the Fed’s views based more on optimism or realism?
