Breitbart Business Digest: Inflation Is Too Hot for the Fed to Cut Despite Sluggish Growth

The GDP Report Snuffs Out the Dream of a Soft Landing

The pace of economic growth in the first three months of the year was far more sluggish than anyone expected—and inflation was much higher.

The report suggests that the soft-landing scenario—solid growth and steadily falling inflation—is dead. We’re now looking at a no-landing or possibly even a hard landing.

Gross domestic product (GDP), the government’s official scorecard for the economy, grew at a paltry 1.6 percent annual pace in the first quarter. That’s a big slowdown from the 3.4 percent pace in the fourth quarter of last year and a reminder that the pace of economic growth can turn suddenly and unexpectedly.

The consensus forecast was for a 2.5 percent pace of

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