Today’s economic headline: U.S. economy grew at 1.6% annualized rate in the first quarter.
What does the number mean? Here is a cautionary note:
Economists, businesses and pundits spent last year predicting a recession that never happened. How could so many get it wrong?
The bottom line: Predictions about the economy are more about what’s going on in the present than what will happen in the future. (Axios)