The US could see the biggest GDP contraction since the COVID-19 lockdown, as President Donald Trump’s tariff plans continue to cause havoc.
The US economy could be shrinking at its fastest rate since the COVID-19 lockdown, according to the Federal Reserve Bank of Atlanta’s GDPNow model, which is now forecasting America’s gross domestic product to fall 2.8% in the first quarter.
The new forecast differs immensely from just a month ago, which estimated America’s GDP was tracking close to a 4% growth for Q1.
While GDP trackers like the Federal Reserve Bank of Atlanta can be volatile, several economic indicators also support the downward trend, which could also spell trouble for the crypto markets too, should a global liquidity crunch and more geopolitical conflict ensue.
