Facing Dismal Economic Projections From Atlanta Fed, Commerce Secretary Proposes Major Change to GDP Reporting
The Atlanta branch of the Federal Reserve is now predicting that America’s GDP could decline by as much as 2.8 percent in the first quarter of 2025.
President Trump’s Secretary of Commerce, Howard Lutnick, is proposing to change the way government measures the overall health of the American economy by stripping government spending from its gross domestic product, or GDP, reports, a move that comes just days after a branch of the Federal Reserve suggested a sharp drop in GDP may be on the immediate horizon because of federal job cuts.
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