U.S. Outlook: Patience springs eternal

Scott Anderson
Posted by Scott Anderson
Chief Economist

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.

Graph showing differences in actual vs. estimated GDP over last several years.The rest of the economy has taken quite a bit longer than it ever has in the past to get back up to speed.

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.

Click here to read my full report.

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