With President Trump and many people around him being treated for COVID, it is clear that COVID can and does touch everyone. Even if you are not infected, you are experiencing a new economy and a new world. COVID changes have been challenging. Many of the changes we are experiencing will stay with us for years, I think. Some are unexpected and will have long-term impacts to our society and economy. Here are some predictions of economic and financial changes that will stay, even after we have achieved victory or control over COVID.
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By most conventional measures of the US economy, we are enjoying broad prosperity in the US. Unemployment is down, equity markets are up. However, salary growth is lagging for many. Analysis by the Pew Research Center shows that average real wages are essentially flat over the last 50 years. It shows that prosperity has not reached the middle class and, well, never did.
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