Will the Fed cut back on stimulus in the face of "back-to-back one-handles on GDP...

|By:, SA News Editor

Will the Fed cut back on stimulus in the face of "back-to-back one-handles on GDP growth"? JPMorgan slashes its estimate for (already-completed) Q2 GDP growth to 1% from 2%, but hikes its forecast for Q3 to 2.5% from 2%. A surprising decline in May wholesale inventories is behind the Q2 move, and what the bank expects will be a bounce this quarter is behind the Q3 upward revision.