[Forbes] The Hidden Volatility Beneath Economic Indicators
Managing Partner Tilman Ehrbeck shares his thoughts in Forbes on the US Financial Health Pulse from our partners at the Financial Health Network. The biggest takeaway? “We cannot be complacent about financial health.”
"United States GDP grew by 1.9% annually last quarter."
"Unemployment is at 3.6%."
"Consumer spending is steady."
"Median household debt is rising fast."
When economic news is reported, it's often in these macro statistics. This view from the aggregate lens could lead you to conclude that Americans are living in the "most prosperous economy the world has ever seen," as JPMorgan Chase Chairman and CEO Jamie Dimon recently said on 60 Minutes, but it misses how individual Americans are doing. And the majority are not prospering.