I have some slightly nerdy hobbies that I dearly enjoy, such as being a member of the Denver Mandolin Orchestra and following financial markets. I guess I am a sucker for data!
It’s been so fantastic to see that inflation has gone DOWN by about 50% since 2021!
After a big spike in inflation economists talk about a “soft landing”, which means bringing down inflation without triggering high unemployment and a recession. Man, things look good on those fronts as well. Gross Domestic Product (GDP) has grown by 7.7 TRILLION dollars in annual output since the 3rd quarter of 2020. That’s an increase of 39%!
And the great news has continued in the labor market with “full employment” (unemployment rate under 4%).
We’ve gone from a peak of 14.7% in April of 2020 to 3.9% in October of 2023. All available data show we’re threading the needle perfectly
and are truly having that “soft landing” everyone was hoping to get.
Kudos to the businesses, entrepreneurs, workers, and policy makers that have diligently and patiently toiled each day to make this great outcome a reality.