Uh Oh Spaghetti Os

For those who do not understand what just happened:

First, Q1 2024 GDP growth slowed to just 1.6% which is less than HALF of the 3.4% Q4 2023 number.

This reading is roughly 50% BELOW Goldman Sach's expectations.

But it gets even worse.

At the same time, the US Core PCE Price… pic.twitter.com/5Rct3i9TGh

— The Kobeissi Letter (@KobeissiLetter) April 25, 2024