Action Economics Survey results:
Action Economics Survey results: It's been a noisy couple of weeks, to say the least. And "for now" (taking Powell's words), that's about all it's been. Noise. But of course, the big question is whether the concerns and uncertainties over trade, and the possible escalation of tariffs start to have real impacts on growth. Stay tuned. Along with the earnings reports next week (40% of the S&P), attention will be on Friday's Advance Q2 GDP release, where the Survey Median shows a 4.1% growth rate, a little more than double the 2.0% Q1 rate. Estimates ranged from 5.0% to 3.0%. Meanwhile, the FOMC is unanimously expected to sit out the July 31, August 1 FOMC meeting, keeping the funds rate band unchanged at 1.75% to 2.00%, though a hike is still strongly anticipated for the September 25, 26 FOMC.