U.S. Outlook: Patience springs eternal
One has to be patient during this economic expansion — except for stock prices, which have been on a one-way ticket to the top since March 2009.
For a look at more of the key metrics, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Sept. 23.Key observations:
- The Fed itself is getting frustrated by the economy’s anemic performance.
- The U.S. economy has been expanding now for more than 7 consecutive years, with nearly 15 million net new jobs created and an unemployment rate that has gone from 10.1% at its peak to just 4.9% today.
- Over the last 7 years annual real GDP has averaged just 1.8% per year.
- There’s more need for patience after housing starts and existing home sales for August disappointed.