The stall speed US economy and fireworks in Europe

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 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…