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Thursday, July 25, 2024

The US Economy Is Great. Stop Worrying About It.

The US Economy Is Great. Stop Worrying About It.

By Tyler Cowen, Advisor Perspectives

Is it possible for economic news to be a little too good? If many economic worries seem to be dwindling, is that reason to be scared? After periods of success, are economies due for a comeuppance — perhaps even for reasons stemming from their earlier achievements?

What prompts these questions is the current US economy. The good news is evident: Its 2.4% growth rate last quarter exceeded expectations, inflation has fallen to the 3% range, wage gains are finally exceeding price hikes, stock prices have rebounded, measures of volatility have been low, and consumer sentiment is improving.

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