No. 803: First-Quarter 2016 GDP, Velocity of Money, FOMC
First-Quarter GDP Growth of 0.5% Was Absolute Nonsense
Residential Investment Contributed 0.5% of the 0.5% Headline Growth,
Yet, Housing Starts Contracted Quarter-to-Quarter
Annual and Quarterly GDP Growth Slowed to Two-Year Lows
Meaningful Downside Revisions Loom for the GDP
Declining Velocity of Money Reflected Slowing GDP Activity