The US economy is expected to grow at a faster rate in the second quarter vs. Q1, based on a variety of predictions, but the improvement may turn out to be a hollow achievement. Indeed, the hurdle is quite low for beating the near-flat expansion in the first three months of the year vs. 2014’s Q4. As for the outlook for this year’s Q2 data, which the government will publish on July 30, let’s just say that minds (and models) differ by more than a trivial degree at this point.
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● US Inflation Closer to Fed’s Goal After Core Prices Advance | Bloomberg
● Yellen says Fed on track for first rate hike this year | USA Today
● German Growth and Confidence Slip | WSJ
● Capital Economics Expects Global Growth To Pick Up In Q2 | RTT
● With Money Drying Up, Greece Is All but Bankrupt | NY Times
● A parallel currency for Greece: Part I | VoxEU