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U.S. Economy Hits The Brakes in Third Quarter

October 31st, 2015

The U.S. Commerce Department has released GDP growth figures for Q3, and they are not pretty, After a much trumpeted growth figure of 3.9 percent in Q2, the American economy grew only by a lackluster 1.5 percent rate in the third quarter of 2015. This is essentially stall speed, and far below the nation’s economic potential.

The poor GDP data is undoubtedly another excuse that the Federal Reserve will use to continue its indefinite delay in normalizing (meaning raising) interest rates. Monetary policy continues to be the essential life support the U.S. and wider global economy has depended on since the global economic and financial crisis erupted in 2008. Seven years later, the world-and especially the United States-requires money printing to goose up the GDP growth data, with a diminishing level of success.

 

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Sheldon Filger's photo.

 

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