With the election, Covid pandemic, and the president’s health converging, the cacophony makes it easy to miss important signs that the economy is doing fine. The pace of the recovery has slowed from the breakneck rate after CARES Act federal aid created a surge in consumer income, spending and savings in April, May and June. But the latest data indicate the U.,S. economy could return to its record run-rate earlier than expected. Here are the facts.
At Fulbright Financial Consulting, PA in Durham, NC, this is a good sign for the economy but we would love for it to be lower. Progress is like watching paint dry: It happens so slowly and in such unpredictable streaks that you can easily miss what’s going on right before your eyes! So it goes with the newly released annual report on poverty in the United States from the U.S. Census Bureau. At a time when the world seems like it’s changing faster than ever, and not always for the best, the poverty rate dropped again in 2019, to a new all-time low.