There are a lot of parallels to 1994/5 right now.
1994/5 Bill Clinton was able to lower deficits, lower inflation, allow the FED to cut rates before a recession hit, but still keep the economy strong all throughout and then give us a mega boom on the strength of democrat supported technology and blue collar jobs.
Right now Joe Biden has done all those things, lowered the deficit from the massive Trump level, lowered inflation from the Trump caused inflation (due to all the money Trump handed out), has the economy and FED on pace to cut rates, and has a strong economy that could get much stronger when rates are cut with booming jobs numbers, strength in technology, and his Build Back Better providing very good blue collar jobs.
Bill Clinton gave us the best economy in US history, but Joe Biden might challenge Bill Clinton for best economy of the modern era. All while lowering the deficit. Its a great time to be an American.
Then again, inflation under Biden is the worst since Carter, so there’s no cause for celebrating yet.
www.bloomberg.com