Charles Payne, Host of Making Money with Charles Payne on FOX Business network joined the Guy Benson Show to react to new GDP numbers showing the U.S economy shrinking and GDP falling by 1.4% in the first quarter of 2022.
Payne reacted to the negative report by saying,
“No one was expecting it to shrink, but the number has been coming down. Like I would say, about a month ago, you still had some people who thought it could be as high as 3%. But then you start to get an anecdote of things, you know, because almost every day some sort of economic data comes out from retail sales, the housing sales, the pending home sales, too, you know. And then, of course, you know, the different kind of economic headwinds we have being inflation. Most folks are first and foremost. I thought it was interesting, though, that the experts sort of played it off and that’s not a big deal. An adjustment in inventories, but it is a big deal.”