Chicago – a facade of skyscrapers facing a lake and behind the facade every type of
dubiousness. -E. M. Forster
Oh!Let us never, never doubt what nobody is sure about. – Hilaire Beloc
Here in the dog days of summer, I am sure that most of you are growing somewhat weary of the debate as to when the Fed will raise rates. As we wrote last quarter, “Is it finally time for an economic spring thaw and is the outcome being stuck in the mud?”
Unfortunately, the modest pace of economic growth continues. GDP for the second quarter came in weaker than expected at 2.3%, versus most economists’ forecasts which looked for closer to 3%.