The economy is slowly and steadily improving. Gross Domestic Product (GDP) grew a healthy 3.5% in the 3’d quarter while employment wages and benefits rose by .7% in both the 2nd and 3rd quarters.Wages and salaries rose by over 5% annually-adjusted in the 3rd quarter, as well.
The best news is that all these increases are not causing inflation to rise. It’s been steady at 1.5% year over year, well within the Fed’s comfort level.
What does all this mean?
The economy is picking up steam without negatively affecting inflation … sooooo … no impetus for the Fed to raise interest rates.
Good news for us all.
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