The US economy may have faced a big drop at present, but it is still considered to be a beacon of growth.
This means that despite its economy facing a lot of toss and turns, the standing of the United States' economy can still serve as an example of growth.
The only thing the Federal Reserve has to worry about now is to come up with ways that would help move the economy forward.
This is one of the reasons why members of the Fed will convene and weigh in the economy and the possibility of implementing higher interest rates in 2016. After the big drop in the U.S. stock market, Fed officials would want more evidence that the "economy is recovering from a fourth-quarter dip when growth sagged below 1%."
"This has been the weakest business expansion in history," said Michael Gregory, deputy chief economist at BMO Capital Markets.
However, despite all these negativity, the U.S. economy is far from being damaged. The country has created plenty of new jobs for its people. It has an average of creating at least 200,000 new jobs every month.
There has been an increase in the sales of automobiles in the last month, together with a rising demand in jumbo jets. These, among others, will contribute and boost the orders for durable goods.
Lastly, it has been reported by MarketWatch, that the people in the United States have been spending a lot more - with 0.4% increase in consumer spending recorded last month.
Meanwhile, CNN Money reports that the recession fears have faded after last week's market rally. This is a sign that there is progress.
"The pessimists are leaning the wrong way," Win Thin, a currency expert at Brown Brothers Harriman, said.
This is in accordance with Atlantis Fed's projection of a 2.6% growth for the first quarter, far from the Federal Reserve's expectation of 1.2%, as compared to that of the previous year.
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
