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Atlanta Fed’s 2nd-Quarter GDP Growth Estimate Is Now Minus-2.1 Percent
Shelves displaying meat are partially empty as shoppers makes their way through a supermarket in Miami, Fla., on Jan. 11, 2022. Joe Raedle/Getty Images
The United States could be in a deep recession, according to a new estimate from the Federal Reserve Bank of Atlanta.
The Atlanta Federal Reserve’s GDPNow model shows that the economy contracted 2.1 percent in the second quarter, down from the previous estimate of minus-1 percent on June 30.
