Stalled out
You probably saw this but the Atlanta Fed came out with its first Q1 GDPNow estimate. And it's starting at a 0.3% level. Here's the chart.
![GDPNow 2019-03-01.png GDPNow 2019-03-01.png](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4f19714-b490-49a5-b02b-cc00712d771b_691x714.png)
GDPNow is a nowcast. So it can change dramatically. And it isn't always very close to the eventual GDP growth number. But, 0.3% is about as low as you can get outside of recession. I think my characterizati…