Return to glory days: Incomes to double, families to prosper; US inching towards a roaring 20s economic scenario

The United States could be on the cusp of returning to its biggest days of glory in terms of its economic outlook, suggests UBS. Looking at the current economic scenario, which is quite promising at this point, is now being compared to the economic boost of the 1920’s. There were certain strong points of the 1920’s economic boom for the United States, with electricity and automobiles being the leaders.

Period of prosperity incoming for Americans?

Jason Draho, head of asset allocation Americas at UBS. is quite optimistic of the glory days of Americans, as the balance is tipping higher towards an economic boom in recent times. Only in the recent days’ notes, Draho claimed that the US economy is already in the ‘Roaring ’20’. Amid all concerns regarding inflation, recession and stagnation around the US economy, Draho’s claims come as a major relied for Americans, that too ahead of the US polls, that are reportedly one of the core reasons why economists are worried about the country’s financial future.

Is the supply and demand both on US’ side?

According to Draho, both the supply side and demand side is in the US economy’s favor at this point. Meanwhile, the current impending recession fears could do very little to impact the situation of the economy, as it is steadily on the rise in recent times. Meanwhile, markets have observed as rebalancing toward the unemployment side of the FOMC mandate, which has helped in ensuring a level of productivity and activity across the economic structure, suggests Fortune report.

FAQs:

Is the US economy recovering?
The US economy is currently on the process of recovering steadily over time, and amid inflation and recession fears, things are going quite strong, according to economists.

Is US headed towards a recession?
There are chances that the United States could witness a recession very soon, and at any point of time, the US economy could face major trouble.