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…