U.S. economy is flying high

Category looxpzzzcptm

first_img continue reading » 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Credit unions are in the “best sector” of a robust economy, Wall Street guru Peter Ricchiuti tells attendees at the CUNA CFO Council Conference in Orlando.“We’re adding 200,000 jobs a month,” he says. “Consumer confidence is at a 15-year high. Loans are rising. You are in the best sector of the economy.”Other highlights from Ricchiuti’s presentation:• Investors are hot and cold on the Trump administration. They like cuts to corporate tax rates, deregulation, and increased infrastructure spending.But they’re not keen on protectionism, import tariffs, and immigration restrictions, which make it hard to fill key jobs and limits innovation.• Unemployment is below 5%, which is considered to be full employment. “There’s very little slack in the economy right now, Ricchiuti says. “If the economy improved any more we really don’t have [enough] workers.”In fact, he says, 89% of manufacturing job losses are the result of improvements in efficiencies, automation, and robotics. “That’s good news for American robots,” he says.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *