Different economic data points, including housing sales and gross domestic product, suggest a cooldown is underway.
Incidentally, the U.S. is expected to grow faster than China in 2022, the first time that hasSecond-quarter GDP, as estimated by the Federal Reserve Bank of Atlanta, shows the U.S. economy rebounding from a first-quarter decline to aof growth. That, by the way, is down from a 2.4% growth rate anticipated just a week ago.
I've long been of the mind that it would be impossible for the Fed to get its policy rate much higher than 2%, in a world that is effectively levered to zero interest rate policy.
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