Economic events are moving quickly

Today’s GDPNow release from the Atlanta Fed forecasts zero GDP growth for the second quarter. That’s down from a forecast of 0.9% just a week ago.

UPDATE JUNE 27, 2022:

Yesterday’s GDPNow release ticks up to 0.3%.

UPDATE JULY 3, 2022:

Friday’s GDPNow release goes negative: the second quarter forecast is now -2.1%. We’ll get the actual number on July 28.