FED Recognizes Unprecedented Good Economy

"Jerome H. Powell, the Federal Reserve chairman, said Tuesday that the American economy is enjoying an unusual but sustainable period of low unemployment and low inflation. He described the current moment, and the Fed’s expectation that it will continue, as 'not too good to be true.'

Inflation is hovering around the 2 percent annual pace that the central bank regards as optimal while the unemployment rate has remained close to 4 percent for the last year. Economists have long regarded low unemployment as a harbinger of higher inflation, and there is no precedent in modern American history for both economic indicators to remain at such low levels.

But Mr. Powell said there was reason to believe this time could be different."

Ref: New York Times

n.b. DonDiego added the underline above.

DonDiego says: " Laissez les bons temps rouler ! "

Damn!  And all this time I thought the New York Times was "fake news".

No doubt the economy is doing well....and its only at the increase of 500 billion borrowed dollars that were injected into it.     I'm sure glad Republicans are responsible for that figure and not those awful Democrats.

Otherwise we would have been subjected to DonDiego's lecture about socialism and other peoples' money.

PJ had no problem with obama’s 10 trillion which produced less than 2% GDP. 

Conservatives did not like the last spending plan. 

I'll ask Tom to give the line item list of Obama/Democrat passed legislation that added 10 trillion to the debt.   And Tom will go hide under a rock like the every other time I've asked.

Cause Obama didn't passs the Bush tax cuts....or start the Iraq WMD hunt.....or initiate Republicans Medicare Part D program.     But Tom sure likes to blame the fiscal ramifications of those things on Obama anyway.   He'll do the same to the next Democrat who inherits Trump's deficits.   That and cry alot about golf.

Obama was in charge during the period the deficit increased by 10 trillion; therefore it was his responsibility. 

I presume you meant to say "debt" and not "deficit".   

And he did.   He reduced his inherited deficit by 2/3 by the time he left office.   

He passed a deficit reducing healthcare plan which you had to be dragged through  kicking-and-screaming.   And then he withdrew troops from Iraq in the context of your kicking and screaming.   And then he reeled in the Bush tax cuts amidst your kicking and screaming.    And he increased spending at a lower rate than any president (including the current one) in the last 50 years.    

And while he was initiating all those deficit reducing actions we had to listen to you cry about the debt.   And now that its going in the oppossitte direction your still kicking and screaming about the shrinking deficit of Obama while shrugging off the increasing deficit of Trump.    

It takes a very special kind of shamelessness to present oneself like Tom.

Under obama the deficit rose to over 1 trillion. It went down by collecting the Obamacare taxes before the program took effect

At the end the deficit was higher than when he took office, but we have been down this road before

We certainly have.  This is where you try to say Obama is responsible for the budget passed 10 months before he took office.     And we all just point and laugh.

But your 2nd paragraph!  Wow!  You've really upped your game., Tom   For your sake I sure hope nobody here is graph literate.

Obama was president in 2009 & he had a huge majority in congress.  Spending levels including the stimulus was in his court. 

Thats right...and the deficit came down as anyone who is graph literate can see.

And the best part of that number is the fact that Obama included the cost of the Iraq War in his budgets - something his predecessor and team of Enron Accountants did not.    And the the deficit still went down anyway.  Pretty cool, huh?