Growth Is Blooming in the U.S. Economy
The American economy finds itself awash in the newfound bloom of economic springtime.
The sages at S&P Global reported on Tuesday that all seven sectors of the U.S. economy posted increases in business activity during February, up from four in January. This is the first time all seven sectors have seen a synchronized rise since April of 2022.
Which is to say that the last time growth was spread so broadly across the tableau of the American economy was just after the Federal Reserve began hiking its benchmark interest rate up from near zero to today’s range of 5.25 to 5.50 percent. It’s now been seven months since the last Fed hike, and whatever drag those hikes might have had seems to have run its course.
As we witness the unfolding of a growth story not heard in nearly two years, we expect a softening of the sound of the persistent…
