GDP contracts a 'Nasty' 1.4 percent

#BREAKING: First quarter GDP numbers showed the U.S. economy contracted -1.4%, something which in the second quarter of 2020 (which included the lockdowns).

Consumption dropped to 2.7%, pricing index UP 8% (highest since 1981), and personal consumption expenditure at 5.2% pic.twitter.com/tfYKCTYQVH

— Curtis Houck (@CurtisHouck) April 28, 2022

CNBC's Joe Kernen: "There's lots of one-offs & distortions. But it doesn't matter. When you...heard people start to talk about recession fears & then...a negative print on GDP, you add into that pretty serious inflation...and then you're immediately going to hear...stagflation" pic.twitter.com/Yn9uGfvHou

— Curtis Houck (@CurtisHouck) April 28, 2022

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CNBC's Rick Santelli joins 'Squawk Box' to break down the initial first-quarter U.S. GDP and weekly jobless claims data.

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