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FED: Here's Why The GDP Report Stunk

Joe WeisenthalJan 31, 2013, 00:55 IST

The Fed's take on today's GDP report (we think) is contained right here in the first sentence of its announcement just now.

Information received since the Federal Open Market Committee met in December suggests that growth in economic activity paused in recent months, in large part because of weather-related disruptions and other transitory factors.

So the Fed doesn't see the weakness as being fundamentals-related: Just weather and other temporary stuff.

Good to know.

For more on the report, see here >