NWSOFA Fiscal and Economic Issues group ZOOM on October 16th

NWSOFA Fiscal and Economic Issues group ZOOM on October 16th

The NWSOFA Fiscal and Economic Issues group will meet on Monday, October 16th at 7 pm. The Zoom room will open by 6:50 pm. Come join us, catch up on this year’s economic news and share your thoughts.

Mostly good news in recent economic data – it looks like we are heading for a soft landing:
– the debt ceiling increased until 2025, but credit rating lowered because we came close to not raising it
– nonfarm payrolls increased by 336,000 in September
– the unemployment rate was 3.8% in September
– The twelve month CPI has declined from 9.1% last June (2022) to 3.6% in August 2023. Twelve month PCE inflation was at 3.5% in August 2023
– First quarter Real GDP growth was revised up to 2.0%. Third estimate of second quarter real GDP remained at 2.1%

David and Karl will be updating the fiscal and economic data over the next two weeks. Come discuss the current state of the US economy.

Bottom line is that the data through August show a slowly growing economy that is still strong. Potential headwinds include a future government shutdown, a UAW strike, and the resumption of student loan payments.

On Monday, October 16th, David and Karl will try to explain what this all means.

A draft of our September PowerPoint presentation can be found at https://docs.google.com/presentation/d/1gHhF8VNsILaLB9u_Y2YgwvSJwrnXNyQD/edit?usp=sharing&ouid=118152796039843164051&rtpof=true&sd=true

Videos of past meetings, including the September meeting, can be found at https://www.youtube.com/channel/UCiw8EhKA-e2l3_gM9FVYX2g

Videos of our September meeting are at https://www.youtube.com/watch?v=KXvHHa0QGbU&t=1154s and https://www.youtube.com/watch?v=CJthNBM19zk&t=6s

After registering, you will receive a confirmation email containing information about joining the meeting.

Link to event information: https://us02web.zoom.us/j/82859573341?pwd=bE14dFE2azJpSy8wYUZOV2RGNkpPdz09