> GDPNow is an excellent tracking model, however, the January surge in imports - especially for gold - caused the model to move negative. As the Atlanta Fed noted: "the contribution of net exports to first-quarter real GDP growth fell from -0.41 percentage points to -3.70 percentage points".
Anyone know what's up with the surge of gold imports? We don't have gold tariffs, right? Are people hedging against the dollar's instability?
Anyone know what's up with the surge of gold imports? We don't have gold tariffs, right? Are people hedging against the dollar's instability?