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So far, 2024 isn’t going quite how it was supposed to for the US economy: Inflation has been higher than expected and household spending seems to have lost some momentum. Those trends represent a new risk for economic growth forecasts that were upgraded around the turn of the year, largely on the view that rapid disinflation would help bring about rising ...
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In a client note on Friday, Goldman's Mark Wilson commented on the money supply (M2) growth, which has noticeably turned upward following the most significant crash since the Great Depression. He questions if this is an inflection point in a "monetary juncture akin to 1995 or 2011." "Although we may be 12 months past the inflection in M2, the historic ...