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Today’s economic news is fairly good. GDP in the third quarter grew at a 3.5 percent annual rate, which means that the slowdown at the beginning of the year really does look like it was just a blip. Aside from that one quarter, economic growth has been pretty robust for over a year now.
At the same time, inflation continues to be very low, which you can take as either good news (if you’re an inflation hawk) or bad news (if you think the economy could use a couple of years of higher inflation).
We could still use some higher growth after five years of weakness, but at least we’re providing a bit of a counterbalance to Europe, which appears to be going off a cliff at the moment. Count your blessings.
