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Tuesday March 19th @7:00 PM central Zoom
“Bidenomics Unchained”
Join NWSOFA’s Fiscal Zoom:
Insightful Economic Update & Discussion”
The Zoom room will open by 6:50 pm. Come join us, catch up on this year’s economic news and share your thoughts.
Good news in recent economic data
It looks like we are heading for a soft landing:
Special new areas of discussion have been added for March:
1)Biden economy vs. Trump economy (pre Covid),
2) Immigration contribution to economy
3) CBO latest 10-year forecast
Lots of economic information to discuss at our March meeting:
– New jobs +275,000 in February…15.4 million in 40 months – Most Ever
– New Unemployment rate is under 4% at 3.9%
– Average hourly earnings -all employees up 5 cents to $34.57
– Average hourly earnings for February – up + 0.1% .. 12 month increase 4.3%
– CPI Inflation for February increased .4%… 12 month increase 3.2%
– Initial estimate 4th quarter real GDP growth 3.3%; 2nd estimate was 3.2%
Three month core PCE inflation was at annualized rate of 2.4% Retail gas prices have been coming down since August, but have come back up in the last month
Biden signed the House approved first 6 spending bills with the other 6 (larger and more complicated bills) needed by 3/27th to avoid a Gov’t shutdown..
Bottom line is that the data through February show a growing economy that is still strong. Potential headwinds include a future government shutdown, the resumption of student loan payments, and issues with the Suez and Panama canals.
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