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Waiting for the Promised Recession: Economic Growth Even Stronger Than Feared, Treasury Yields Spike

June 30, 2023

by Wolf Richter Wolf Street

The Fed has jacked up interest rates to over 5% to slow down this circus, and instead we’re getting accelerated growth.

We’ve been on a recession watch here for well over a year, the most-promised and most highly anticipated recession ever. For the markets — they really want that recession so that the Fed will cut rates and restart QE or whatever — it’s like “Waiting for Godot,” that infamous play of the early 1950s that was part of a movement called, “Theatre of the Absurd,” which makes total sense here. The play’s two characters are waiting for Godot, but Godot never arrives.