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Atlanta Fed GDPNow Sees Economy Shrinking After Friday Data

(Bloomberg) -- The US economy is setting up to take a major step back in the first quarter after a pair of reports showed weaker consumer spending and a dramatic widening of the trade deficit at the start of the year, according to the Federal Reserve Bank of Atlanta’s latest GDPNow forecast.Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness Pro

Fed’s Goolsbee Warns Against Overreliance on Productivity Gains

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee lauded the recent increase in productivity growth, but warned that over-anticipating positive economic effects from it could put the central bank in a “tough position.”Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC Office Buildings See Resurgence as Invest