The Fed has succeeded in its efforts to slow down U.S. GDP growth.
If today’s initial estimate holds up after revisions, then the trend line for inflation-adjusted growth over the past year will look like this:
2.6 – Q2 2006
2.0 – Q3 2006
2.5 – Q4 2006
1.3 – Q1 2007
Source: Dept. of Commerce, BEA.
