CNN: U.S. economy is ‘fair’
BUSINESS RECORD STAFF Oct 16, 2015 | 8:48 pm
1 min read time
266 wordsAll Latest News, Banking and FinanceNearly half of U.S. investors responding to a poll by CNNMoney and E*Trade rated the economy just “fair,” CNNMoney reported.
The poll of 1,000 investors who have at least $10,000 in an online trading account asked them to rate the economy as great, good, fair, poor or extremely poor. Another 21 percent rated the economy poor — or worse.
Everyone from the Federal Reserve to Wall Street banks has had to slash their forecasts for growth this year. Job gains are slowing down. People still aren’t buying much, and the manufacturing sector is getting slammed by the strong U.S. dollar, which makes American goods more expensive on the world market.
These cracks in the U.S. economy are feeding into the perception that the economy isn’t even in the category of “good, but not great,” as some economists like to characterize it. That could be a problem going forward, since sentiment plays a role in how much people are willing to dig into their pockets for holiday spending or how much they invest, CNNMoney reported.
On top of that, investors don’t have a lot of faith in how policymakers in Washington, D.C., are steering the economy.
Janet Yellen and the Federal Reserve only get a C grade for their performance handling the economy. And another debt ceiling crisis — where the U.S. might not be able to pay its bills — is a mere days away.
Despite the feeling of gloom over where we are, the investors surveyed remain optimistic about the future, with 56 percent saying they believe their investment portfolio will be perform better in 2016.
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