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With the economy growing robustly for the first time in a decade, wage growth picking up, and inflation near the Fed’s 2 percent target, the Fed’s decision to hold rates steady seems prudent. I believe that Chairman Powell is on the right track to normalize monetary policy and to enable the full long-term growth effects of tax and regulatory reforms to be realized.
“Americans’ paychecks are finally breaking through the ceiling of wage growth that’s held for nearly a decade, firmly establishing that our economy’s strong momentum is boosting jobs and especially worker pay. This is an exceptionally good report with 250,000 jobs created, a milestone that reminds us that we must continue to push for pro-growth policies that allow all Americans to receive the raises and opportunities they deserve.”
Obamacare forced Americans to buy government-approved health insurance—a federal command known as the individual mandate—and enforced it by taxing people who are uninsured. Since the Tax Cuts and Jobs Act ended the tax (beginning in 2019), reality has defied every doomsday prediction.

Oct 29 2018

Q3-2018 GDP Review

RGDP growth averaged 3.0% over the last six quarters compared to the Obama Administration’s 2.2% recovery average despite its predictions that faster growth was no longer attainable. Likewise, take-home pay (real disposable income—inflation-adjusted income after taxes) is growing faster. It has averaged 2.7% over the last 6 quarters compared with an Obama-era recovery average of 2.3%. The improved economic outlook reaffirms that common-sense pro-growth policies work.
"The announcement of 3.5 percent GDP growth strengthens Americans' confidence under pro-growth policies with faster wage growth and less unemployment," said Paulsen. "Rising business investment shows that the economy will continue to be healthy and strong. Americans have more opportunity and more money in their pockets today than they did two years ago, and that's in large part due to the reforms we've pushed forward."
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The wages of the bottom 10% of full-time wage and salary workers have averaged 4.9 percent annual growth over the last four quarters—well above inflation. This is more evidence that the stronger economy made possible by pro-growth policies is helping workers who have faced some of the greatest challenges.
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As of September 2018, the overall U.S. unemployment rate was the lowest since December 1969. Several groups within the workforce also experienced the lowest unemployment rates ever recorded in the last half-century, including disabled men, black men, Hispanics, Hispanic women, women, and married women.*