, Columnist
GDP Is Great Again, For One Quarter Anyway
The stock market isn’t as thrilled about the economy as Trump is.
Feel the excitement.
Photographer: BRYAN R. SMITH/AFP/Getty Images
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Pop quiz: The U.S. economy today turned in its strongest quarterly GDP growth in four years. Did stock prices:
If you answered “b,” then you could be a money manager. Stocks fell despite the good economic news. Who knows why stocks do what they do, but there are many possible explanations for this wet-firecracker reaction. First, the market is not the economy. Second, strong numbers make the Federal Reserve more likely to raise interest rates, Tim Duy argues, and that is generally no bueno por el stocko.