re: 1st quarter GDP: 3.2%

inflation does look like it's actually been pretty low over the quarter, though. that deflator may get revised up a bit, but i do doubt that the quarterly rgdp figure gets meaningfully revised down

for me, i'm much more focused on the volatile parts that bumped this up, and on the more fundamental ones that were so weak (particularly consumption, which makes up on average the majority of gdp, and has to over the long-term drive most of its growth).

i don't think consumption will be as weak in q2 as it was in q1. but there could easily be a somewhat nasty snap back in inventories, net exports, and state/local govt spending. if not that, a gradual drag over the year from those things