The April FOMC vote split 8-4, the most divided since 1992, as Q1 PCE came in at 4.5% annualized. Warsh inherits a fractured committee, a payrolls beat of +115K, and no labor-market alibi for cuts.
Software and IT investment contributed 134 basis points to the 2.0% Q1 GDP growth, the largest quarterly contribution on record and accounting for two-thirds of the expansion. Source
