Gerstner notes Fed raised its 2024 GDP forecast from 1.1% in June to 1.5% today.
“The Fed forecast in June of this year for GDP growth for 2024 was 1.1%. Today, the Fed forecast for GDP growth in 2024 is 1.5%. It went up.”
Gerstner states he is certain the probability of meaningful economic slowing in 2024 has increased.
“I am certain that the probability that we're going to have meaningful slowing in 2024 has gone up.”