Looks crashy

Mises Org: Well that was fast. Yesterday we observed the silliness of Fed president Kaplan's idea that it was consumers that were going to push GDP up over 2%. Today, we learn the following (source):

Turning to spending and income, personal consumption expenditures could muster only a 0.2 percent gain, 1 tenth below the Econoday consensus in a marginal gain that belies the enormous strength underway in consumer confidence. And when adjusted for inflation, spending fell 0.3 percent for the largest drop since September 2009.

And the Swampers managed to increase rates, just in time.