Kansas City is a wonderful city. But the KC Fed’s Services Survey is not. In fact, it plunged to -11 for January. Rough start to the new year.
The decline in the KC Fed survery mirrors that of other regional Fed indices, indicating a slowdown in the US economy as The Fed withdraws the monetary punch bowl,
Despite the hoopla, remember that US Real GDP growth only grew at less than 1% on a year-over-year basis in 2022.
Apparently, The Federal Reserve doesn’t have a whole lotta love for middle class America.
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