An easy to use, efficient method of purchasing goods and services is essential to a well functioning economy. Payment methods have evolved throughout human history, from barter to primitive forms of money, to full-bodied coins and precious metals, to bank notes, to national fiat currency and checks. This infographic summarizes some of the findings in our full report, The Electronic Payment System: An Assessment of Benefits for the US and State Economies.
Dr. Perryman provides insights regarding certain considerations for immigration policy.
US News and World Report puts the US economy first worldwide, but Dr. Perryman says when it comes to stability, we are 14th.
Dr. Perryman sees nothing wrong with trying to have secure immigration, but he says policymakers must also consider the economic consequences.
The US economy was up 3.2% in the third quarter, its strongest clip in two years.
The US economy is well positioned for long-term growth, and our latest forecast indicates expansion at a moderate pace. Jobs continue to be added at a notable rate, and other signals are generally positive. For example, the housing market has finally worked through the major problems of the Great Recession, a positive signal for expansion. At the same time, trade issues remain unresolved and labor shortages are impediments to optimal performance.
The US labor market is tight, with national unemployment rates well below the 4% level commonly considered "full employment." There is perhaps some modest slack, with millions unemployed and others working part-time when they'd rather be working full time. Nonetheless, there are ample signs that even this limited supply of potential workers is diminishing in most markets and industries.
As I look at the US economy and consider the future, I see some good news and some bad news. On balance, I think we'll see continued moderate expansion, but it may be a rocky road at times.