Yesterday was quite the day, huh?

Rudy Giuliani's apartment and office were raided. Today we found out that a grand jury is in process.

Biden gave his "99-day" speech. It was great, unless you're a Republican. Many tweeted their time away, some fell asleep, and others, well, they just didn't pay attention.

Another par-for-the-course day in DC. It wouldn't have been much different with a Republican president. That's just the way it is now in national politics.

Other news:

The US economy is SIZZLING!

Q1 GDP grew at a 6.4 percent annualized rate.

WASHINGTON (AP) — Powered by consumers, the U.S. economy grew at a brisk 6.4% annual rate last quarter — a show of strength fueled by government aid and declining viral cases that could drive further gains as the nation rebounds with unusual speed from the pandemic recession.

Thursday’s report from the Commerce Department estimated that the nation’s gross domestic product — its total output of goods and services — accelerated in the January-March quarter from a 4.3% annual gain in the final quarter of 2020.

Growth in the current April-June period is expected to be faster still, potentially reaching a 10% annual pace or more, led by an increase in people willing and able to travel, shop, dine out and otherwise resume their spending habits.

AP

It will be interesting to see how the Federal Reserve responds to this. They have traditionally “removed the punch bowl from the party” before things heated up too much. Expect interest rates to rise, albeit slightly. The bond market has already taken notice.

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Read the rest of the Morning Sixpack here.

Make it a great day!

Bill

🍺 PS - Buy me a beer to keep the Daily Grind News open for business!