Fed Chair - We Remain In Extraordinary Times
Not since the 1950s, Federal Reserve Board Chair Jerome Powell said this past week, have inflation AND unemployment remained so low for so long.
The Fed chair’s economic forecast depicts a throwback to conditions seen only briefly in post-War history, and the latest data reinforces what Mr. Powell calls “a remarkably positive outlook.”
In the 88% of the U.S. economy outside of the manufacturing sector, purchasing activity soared in September, climbing to the highest level since inception of the index in January 2008.
The forward-looking new orders component of this index slowed slightly from August, but remained very strong.
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