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📝 Recession Risk Unchanged After Today's GDP Report: Wells Fargo

Most of the media attention is consumed with what a negative print means for the outlook and whether the economy is headed for recession. The recession risk is not changed by today's GDP report. The best way of thinking about a negative print is that this is a confluence of accounting dynamics that belie a sustained backdrop of steady economic activity. Inverted yield curves and negative GDP growth are scary, but the underlying details of today's GDP report are consistent with our forecast for slow growth. A negative print for GDP does not warrant any additional distress or worry about potential recession. - Wells Fargo Economics



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