Macro Insights Weekly - Recession watch?

In a remarkable change in economic momentum over two months, the US economy is sputtering. Recession may not be around the corner, but worrisome undertones are building up.
Key driver of weakening GDP is a surge in imports, making net exports' contribution negative.
There are concerns about consumption and investment outlook as well.
Growth markers may be weakening, but inflation remains sticky.
Fed policy calculus would become challenging if such dynamics persist.
Forthcoming tax policy measures would add further complication to the equation.