On The Economy
Tax cuts have created a wave of corporate and consumer optimism that should lead to additional spending, as well as more capital investment back into American manufacturing plants and equipment.
Artificial Intelligence (AI), Autonomous Electric Vehicles (AEV), and other new technologies have created an accelerated pace of change in manufacturing, retail, transportation and the financial service industries. New jobs and profit opportunity are available for those individuals and companies that can harness this power to deliver a better customer experience.
For 30 years, I have been following six leading indicators that tell me how the economy is doing. Right now, these reports indicate that our economy is strong and healthy: with steady growth, low unemployment and very little inflation. I call this the “Goldilocks economy” because it's neither too hot nor too cold.
- Job Growth of 313,000 new jobs created in February = Healthy
- GDP is trending higher at 2.6% = Healthy
- Durable Goods Orders increased 2.9% = Healthy
- Core Inflation of 1.8%. Below Target = Healthy
- Interest Rates are rising. 10-year Treasury yields 2.8% = Healthy
- Stock Market Prices continue to climb higher = Healthy
Now is a great time for Congress to start implementing a long-term financial plan for reducing the national debt and federal deficit. As your Senator, I will help lead the way!