The Atlanta Federal Reserve has indicated that the U.S. economy is projected to experience negative GDP growth in the first quarter, with forecasts estimating a decline of 1.5%. This comes amidst various predictions that suggest a potential recession is underway, marking the first contraction in three years. The GDPNow tracker has also shifted into recessionary territory, reflecting a broader concern among regional Fed banks regarding the economic outlook. As the situation develops, many are closely monitoring the forecasts to understand the implications for economic growth moving forward.