Atlanta Fed cuts Q1 GDPNow forecast to 2.1% from 2.5%

Atlanta Fed says strong Q4 inventory growth will hurt Q1
What they had to say:
"The forecast for first-quarter real consumer spending growth increased from 3.1 percent to 3.5 percent following this morning’s personal income and outlays release from the U.S Bureau of Economic Analysis (BEA). This was more than offset by a downward revision of the contribution of inventory investment to first-quarter real GDP growth from 0.2 percentage points to -0.4 percentage points after this morning’s GDP release from the BEA."