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May Federal Tax Data: Slowing Growth Nears Critical Inflection Point

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Withholding tax collections rose year-over-year as of June 2, but the underlying trend has been weakening since December. Despite a short-term rebound, the muted bounce points to recession risk, especially given disruptions from tariffs.

Here’s the data, and what to look out for in the months ahead. 

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Posted in 1 - Liquidity Trader- Macro Liquidity, Fed, Central Bank and Banking Macro Liquidity