Economist Nicholas Perna spoke before 300 guests and employees of Fairfield County Bank, Fairfield County Bank Insurance Services, and Fairfield County Financial Services at Rolling Hills Country Club in Wilton, Connecticut. Perna, a well regarded economic expert and former economist for the Federal Reserve, discussed the United States economy, the stock market, Connecticut’s economy and his views on the future.
Perna began the evening discussing the United States economy demonstrating relatively strong job growth and a spectacular unemployment rate which currently sits at 4%. The inflation rate of 2% is right where the Federal Reserve targets as a sweet spot for growth. With the stock market having its biggest rally in recent memory, Mr. Perna stated that market gains not only reflect a good economy but show consumers and businesses are reacting positively to low interest rates, potential tax cuts, and possible deregulation.