The US economy is booming. Service industries, such as restaurants, have benefitted the most from the rebound. But businesses have had trouble hiring. Many of their former employees have found new jobs or remain reluctant to return to work. Companies are offering incentives to attract new employees. They also must train them. Cost increases and a pent-up demand have pushed prices higher. Will the boom continue? Will it result in prolonged inflation? To learn more about the US economy’s progress and where it is heading, access the government reports here and read our summary of vital statistics and analysis. More

The US economy continues to rebound from the 2020 recession, but there are some growing pains. Economic growth accelerated in the first quarter, and prosperity is likely to continue into the second. Household income has increased, primarily because of massive transfer payments from the federal government fueled consumer spending. Learn more by reviewing the Bureau of Economic Analysis reports on RGDP and Personal Income and Outlays, and the Bureau of Labor Statistics reports on inflation and unemployment. More

Is the economy growing too fast? Will inflation become a problem? Many economists are concerned President Biden’s $1.9 trillion stimulus package, and $2.0 trillion infrastructure proposal are too aggressive because they will cause a harmful increase in the price level. The International Monetary Fund recently upgraded its 2021 economic growth projection for the US economy to 6.4%, which would be the most since 1984. If shortages develop, inflation would likely result. To learn more about the US economy’s progress and where it is heading, read our summary of vital statistics and analysis. More

A new round of stimulus and supplemental unemployment checks revived the US economy in February. Income increased and households responded by increasing their spending and saving. Businesses hired. Even the news regarding COVID cases was encouraging. And this doesn’t include the additional fiscal stimulus from the Biden package. Most economists expect the additional spending will continue to prop up the economy. The news is good the economy should continue its robust recovery without a new outbreak of the coronavirus. To learn more about our progress and where we are heading, read our summary of vital statistics and analysis. More