The United States economy has a “remarkably positive” outlook, according to Federal Reserve Chairman Jerome Powell. Charles Evans, Chicago Fed chief executive, agrees and said it would remain so for quite some time, especially if interest rates rise to above average. Evans spoke to CNBC and said, “The U.S. economy is doing extremely well. Fundamentals are strong, and the labor market is doing terrific.” Unemployment is under four percent, which is the lowest rate in 18 years. Payroll employment has added over 200,000 jobs each month, and inflation is up to the Fed’s target level of two percent.
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“Things are going very well”
Evans expressed his idea that inflation needed to increase to at least two percent, and now it has happened. He said with the current numbers, things are going very well and will continue for several years.
He said if the numbers increase slightly, it will continue for some time. The current interest rate ranges from two to 2.5 percent, which is the highest since the 2008 financial crash.
Payroll employment has added over
The FOMC has indicated one more increase this year, bringing the median range to 3.4 percent, where it will remain through 2021 before steadying out at three percent in the long run. ABD Goc Hizmetleri has a team of immigrant professionals to help you apply for the required visa to live and work in the United States. Contact them today!
Long-term inflation predictions are remaining low. We do not need to raise the rate as harshly as in the past. As the outlook continues to remain healthy, the Fed can set the rate at a slightly stronger level and hold it there until the signs lead for a change.
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