Dr. Perryman explains the role of capacity utilization plays in indicating the strength of the economy.
Gazing out over the next few decades, I see at least three major challenges confronting the US economy. First, we have to overcome the consequences of the lingering effects of the pandemic, including getting inflation under control, dealing with the inevitable fallout that effort will involve, and working through ongoing supply chain disruptions. Second, we must confront the chronic worker shortages. Third, we need to fashion a realistic energy policy which both meets climate goals and provides for future essential resources (more on that another time).
The US economy continues to recover from the pandemic. Even in the midst of challenges both domestically and internationally, our latest projections call for expansion over the next five years. Here's an overview of some key patterns influencing the outlook.