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FWIW, the Atlanta Fed 4th quarter RGDP estimate (that’s real GDP) has been bumped up to 4.4%. And inflation is still hot. Wake me when the Fed begins to tighten.

Here’s the FT:

US retail sales rose more than expected in October, notching their biggest monthly increase since the start of the year.

Sales, which include spending on food and fuel, rose 1.3 per cent from the previous month to $694.5bn, according to data from the Census Bureau on Wednesday. That was up from no growth in September and marked the biggest month-on-month increase since January. Economists had expected a 1 per cent increase. . . .

The so-called retail control group, which excludes building materials, motor vehicle parts and petrol station sales, jumped 0.7 per cent, following an upwardly revised 0.6 per cent increase in September. Economists expected a 0.3 per cent increase.

But two quarters of negative GDP mean we’re in a recession.” LOL.

“So what should the Fed have done differently?”

Level targeting

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Level targeting

Level targeting

Level targeting

Level targeting

Level targeting

Level targeting

Level targeting

Level targeting

Level targeting

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