Despite what we hear from the far right, the U.S. economy is not circling the drain.
Dallas Federal Reserve President Richard Fisher made that clear in an interview with CNBC today. Fisher said that CEOs around the country tell him that they feel better about the economy.
” …The tone is a lot better. It’s not brilliant; we don’t have enough new hiring taking place, (but we’re) definitely moving in the right direction. … Things are better than the numbers might suggest or at least moving in the right direction,” Fisher said.
Fisher noted that exports and manufacturing are picking up and that the American private sector is “the most efficient in the world. They have cut costs to the bone. They are hyperproductive. They are still sitting on a pile of cash. I’m not sure all that cash has been put to work. We know there is a lot of cash on the sidelines.”
After listening to the drumbeat of doom that is the Republican presidential primary, it’s refreshing to hear a voice of reason.
Here’s the full Fisher interview:
CNBC Video: Dallas Fed President: Economy Getting Better