Economic Insights – September 2018

The first eight years of the current economic expansion-Q3 2009 to Q4 2016 -encompassed one of the weakest recoveries on record, averaging just 2.2 percent per year compared to the 4.3 percent average annual growth rate of previous expansions. And, in Q2 2018, we ended the first 12-month period in more than a decade when growth exceeded 3 percent.

This and other traits in this recovery suggest it could last longer than most analysts can imagine. Inflationary forces which were widely predicted after QE was announced haven’t materi.....