Economic growth slowed- Wall Street Journal Predictable GDP- CNBC Result in line but some expected more- CBS Economy grows despite high energy costs- Yahoo! US economy kept growing solidly- Reuters It's interesting to read the headlines, and hard to make conclussions. The best way to measure it is by the movement of the indexes, the markets are never wrong.
Look at the GDP chart. Every other Q, it peaks but the peak is lower than the previous peak and then the next Q it goes down and it is lower than the previous low. I have done a prediction for the next Q (third Q) that I am showing it in the chart. It should be a little better than this Q but lower than the 1st Q. it looks scary. You might smell recession from it. What if the next Q GDP dips a little bit more?. FYI : It seems that 3rd Q was always the best Q for GDP.
Let me "risk a little more light." You all will be surprised by how much the Fed will raise rates. The Fed wants rates to go back to what is normal for a normally growing economy. 5% fed rate, 7.5% mortgages... that sort of thing. No more 1% mortgages and Hong Kong like asymptotic housing prices.