Original article from Yahoo Finance by Josh Schafer
On Thursday, revisions to first quarter economic data showed the economy grew faster than initially expected despite inflation coming in higher than first noted.
In the labor market, revisions resulting in part from fraudulent data in Massachusetts show jobless claims aren’t piling up as previously anticipated.
Together, the data points add to a growing narrative that current economic data doesn’t match the pessimism of some economists warning about a recession.
“The argument that we’re definitely going into a recession is dubious,” Blackrock’s CIO of fixed income Rick Rieder told Yahoo Finance Live. “The question is, can inflation come down enough to hit the target, and that’s the one that is not clear at this point.”
Rieder’s comments come amid a week that showed consumer spending power is not deterio…
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