Throughout the summer of 2019, weaker manufacturing reports and the ongoing trade concerns between the US and China kept financial markets on edge, triggering short-term selling periods. And with most analysts saying that the US economy would not see 2.0% in GDP expansion in the near future, the view of the US economy was largely weak. Stocks remained in check as the S&P 500 traded sideways during August and September. However, with the three interest rate cuts of a quarter-point each, and the more recent US jobs report of 226,000 jobs created, the November view of the US economy is far more positive. Some firms, including Goldman Sachs are looking for the US economy to accelerate in 2020, expanding beyond current expectations. It is hard to believe but the US economy under President Trump has performed well, to he now can focus on his battles with Democrats in the impeachment process – the economy is doing just fine.
US Economy Accelerating in 2020
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