Peter Ireland, E21
The U.S. economy has regained momentum after a spell of financial-market volatility sparked fears of a slowdown or even a recession late last year. Real GDP grew at a 3.2% annual rate in the first quarter of 2019, surprising many analysts who expected a much weaker report. The unemployment rate, at 3.6%, stands at its lowest level in nearly 50 years. And while inflation continues to fall below the Federal Reserve’s long-run 2% target, Fed Chair Jerome Powell emphasized at his May 1 press conference that he sees the latest price data as reflecting a variety of special factors, which he expects to be transient, rather than a sign that monetary policy has become overly restrictive. Read more here....