"The Atlanta Federal Reserve’s GDPNow measure currently estimates the economy grew 1.5% in the second quarter. Although this headline number is disappointing, note that the current estimate of final sales to private domestic purchasers is a healthier 3%. The Fed will be more concern about the health of the underlying domestic economic and the business investment numbers than the headline number."
(Still Looks Like 25bp dated 07/15/2019 by Timothy A. Duy, Senior Director with Oregon Economic Forum & Professor of Practice with Department of Economics at University of Oregon)
Full article can be read here: https://blogs.uoregon.edu/timduyfedwatch/2019/07/15/still-looks-like-25bp