Mike Walden: Has the Economy Shifted into Higher Gear?
Mike, there is renewed optimism about the economy going into the end of the year. The unemployment rate is nearing 4%, a level many economists associate with full employment. In the two most recent quarters the economy has been growing at an annual rate of 3% or better, 50% higher than in recent years. And both consumer and business confidence readings are high. Should we be optimistic?
Mike: Summary Answer
- yes, I think so
- the keys have been continued job growth and somewhat better income growth
- have motivated consumers to spend more, which helps business and creates a
- higher stock market has helped
- but quick to say – prosperity isn’t everywhere and for everyone
- what could tip the apple cart?
- stock market decline, overleverage by consumers, foreign even