Democrat Bob Casey concedes Pennsylvania Senate race to Dave McCormick, ending recount
Housing:
Housing prices are projected to increase over the next four years, as more buyers enter the market. New construction will also be a factor, as developers move to meet the rising demand for affordable housing in urban centers and suburban areas. Low mortgage rates will help encourage buyers, although rising interest rates could keep the market from becoming overly inflated.
Inflation:
Inflation could rise steadily over the next four years, as economic growth continues and the government celebrates a higher living standard for many Americans. However, the Federal Reserve is likely to keep interest rates low in order to continue to stimulate the economy and curb inflation.
Interest Rates:
Interest rates are projected to rise over the next four years, which could increase the cost of borrowing for consumers and businesses. The Federal Reserve’s goal is to slowly raise rates as the economy continues to grow.
Unemployment:
Unemployment should remain low, as the economy continues to expand and new businesses emerge. Job growth, while uneven across sectors, should be more evenly distributed than in recent years.
Stock Market:
The stock market is expected to continue to flourish as the economy grows, fueled in part by businesses taking advantage of low interest rates. Investors can also benefit from economic tailwinds, such as increasing wages, lower taxes, and deregulation.
Consumer Spending:
Consumer spending should remain strong, supported by rising wages, low unemployment, and low interest rates. However, rising inflation could cause some consumers to become more conservative with their purchases.
Trade:
International trade is likely to remain a factor as countries attempt to renegotiate existing agreements and increase global commerce. This could mean increased access to foreign markets and commodities but also could mean tariffs, taxes, or other restrictions, which could negatively impact businesses and consumers.
