I am looking at the bigger picture. Every single indicator of economic activity is doing very well.
I believe the main reason the economy is doing so well is the Bush tax cuts which have resulted in increased revenue to the Treasury and lower-than-projected deficits. People have been able to keep more of their own money, which has also had a positive impact. Inflation remains relatively low as well, so there has been no need to raise interest rates to "put the brakes" on the economy, so to speak.
Regards,
Scott Perry
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