It goes without saying that there's a lot going on in the economy these days. The United States (and most of the rest of the world) is dealing with high (though moderating) inflation, rising interest rates, struggling industries and markets, geopolitical tensions, and a host of other uncertainties. Nonetheless, I remain optimistic regarding the potential for growth, although the path will probably not be as smooth as we would hope.
The US economy is currently enduring some major headwinds. High inflation persists even as the Federal Reserve raises interest rates. Fallout from the escalating interest rates is affecting a number of industries and individuals, with ripple effects throughout the economy. Geopolitical uncertainty is also a factor, with not only Russia-Ukraine, but several other areas showing signs of rising tensions. However, while there will almost certainly be some bumps along the way, I don't anticipate a major meltdown. In fact, our latest projections call for notable growth over the next five years. Let's briefly explore a few key issues.