While we are overwhelmed by what seems like endless bad news, some economic indicators hail better times to come. Maria Bartiromo of “Mornings With Maria” on Fox News Business told Chris Salcedo on Thursday’s “Chris Salcedo Show” that first quarter Standard and Poor's 500 profits were up 14 percent.
She said, "It's clearly obvious that things are getting better,” as an additional 11 percent growth is predicted. She said for the first time in about a decade, companies are loosening the purse strings. They were not willing to put cash to work because “they were strangled with regulations ... and the end market demand story was unclear.”
She credits President Donald Trump with rolling back regulations so companies feel more secure hiring people and investing in research and development. She said many businesses were spending what money they had on hiring lawyers to deal with hundreds of regulations made during the last administration.
Bartiromo also said that to continue to see improvements, the United States “will need to see some tax reform.” Although employment has gone up, wages are stagnant. The new RAISE immigration proposal might also change the relationship between labor supply and wages.