Atlanta Fed’s GDPNow model slashed to 1.2% for fourth quarter

Is the party over?

Just before the Federal Reserve announced its decision to cut interest rates, the Atlanta Fed Bank updated its GDPNow Model estimate for the fourth quarter.

The Atlanta Fed Bank is penciling in 1.2 percent growth, down from the previous estimate of 2.7 percent.

Of course, it is still too early now with plenty of incoming data, but this could serve as a precautionary tale.