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Your View of Recent US Macroeconomic Performance: Design a Policy - Essay Example

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The purpose of present paper is to describe the recent US macro-economic performance from the writer's point of view. The study discusses jobs and unemployment, inflation and expectations of inflation, financial policy, and other aspects, which are illustrated with various schemes…
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Your View of Recent US Macroeconomic Performance: Design a Policy
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Your View of Recent US Macroeconomic Performance: Design a Policy

Download file to see previous pages... For the last 3 years, unemployment rate has gone up from 4.60% in 2007 to 9.70% in 2010.(Trading Economics) Loss of jobs are due to recession and outsourcing. Reuters said 8.4 million lost jobs are due to recession, while Nounou, E. said outsourcing results to capital flight and job losses. Nounou reported 3.3 million jobs are outsourced to India, Philippines, Jamaica and Sri Lanka, while $13 billion in wages are capital flight to these countries and has affected employment in the US.
Inflation and expectations of inflation. Consumer price index is a benchmark used to measure inflation and its movement is constantly being watched. In November 2008, CPI has gone down, but it is forecast to go up by July 2010. Relative to inflation, US inflation rate in January is down to 2.63% and forecast to still go down to 2.14% in February 2010. The present inflation rate is still off-target from the expected inflation rate set by the government for the next five to six years which is 1.7% to 2.0% . (Financial Forecast Center) Another measure of inflation is the Producers Price Index that “measures the average change over time in the selling prices received by domestic producers for their output”. (BLS) The PPI for finished goods is fluctuating, as there is a 0.7 percent increase in March, a 0.6 decline in February and a 1.4 increase in January this year. There is also 0.1 percent of PPI increase in goods other than food and energy. At the present tax level, revenues coming from taxes are not sufficient to support government spending ...Download file to see next pagesRead More
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