Commentary by Greg C. Truax
Signs mount that U.S. economic growth is slowing. Economists are cutting their projections for growth in the second quarter.
And Growth Domestic Product for the second quarter, according to the GDPNow model by the Federal Reserve Bank of Atlanta, estimates real GDP growth is 0.0 percent.
Recall that GDP in the first quarter fell at a 1.5 percent annual rate. A recession is generally defined as two consecutive quarters of falling output.
But a recession is not a sure thing; however, a new Conference Board Survey reveals more than 60 percent of top executives believe a recession looms.
The U.S. economy is cooling while American’s are experiencing roaring inflation led by fuel, food, housing – home mortgage rates have soared to 5.78 percent.