8/21 – Monday 7 PM Zoom
US Economic News continues to be Strong
Bidenomics is Working
Growth Growth from the bottom up – Middle out
Good news in recent economic data – it looks like we are heading for a soft landing:
– the debt ceiling increased until 2025
– nonfarm payrolls increased by 187,000 in July
– the unemployment rate lowered to 3.5% in July
– The twelve month CPI has declined from 9.1% last June (2022) to 3.2% in July 2023.
Twelve month PCE inflation was also at 3.2% in July 2023
– First quarter Real GDP growth was revised up to 2.0%.
Second quarter real GDP was 2.4%
The NWSOFA Fiscal and Economic Issues group will meet on Monday, August 21st at 7 pm. The Zoom room will open by 6:50 pm. Come join us, catch up on this year’s economic news and share your thoughts.
David and Karl will be updating the fiscal and economic data. Come discuss the current state of the US economy.
Bottom line is that the data through July show a slowing economy that was still strong.