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I think in our discussions, we share the view that the economy is strengthening, that we are into recovery, that it’s actually led by some interesting sectors like manufacturing that we haven’t seen in quite some time.
The tech sectors are strong.
We have gone from losing 750,000 jobs per month to five months of job growth now, private sector job growth that is obviously so important to consumer confidence and the well-being of the economy overall.
There is a great concern about the 8 million jobs that were lost during the course of these last two years, and that we’ve got to continually push the pace of economic growth in order to put people back to work.
That, ultimately is the measure for most Americans of how well the economy is doing, and although we’ve seen corporate profits go up, we have seen some very positive trends in a number of sectors.
Unfortunately, because of the troubles that we’ve seen in Europe, we’re now seeing some headwinds and some skittishness and nervousness on the part of the markets and on part of business and investors, and so we’re still going to have to work through that.
Not only will completion of the financial regulatory reform bill provide some certainty to the markets about how we are going to prevent a crisis like this from happening again, but it also ensures that consumers are going to be protected like never before on all the things day to day that involve interactions with the financial system.
From credit card debt to mortgages, consumers are going to have the kinds of protections that they have not had before.
We’re going to be taking a whole range of financial instruments that had been in the shadows and we’re going to be putting them in the light of day so that regulators can provide the oversight that potentially would prevent a future crisis.
We’re going to be in a position to resolve the failure of one institution without seeing it infect the entire financial system.
I continue to be convinced that with financial regulatory reform in place, with a recovery well underway, that we have enormous potential to build on the hard work that’s been done by this team and put people back to work, and keep this recovery and the economy growing over the next several years.
But we can’t let up.
We’re going to have to continue to be vigilant.
The tech sectors are strong.
We have gone from losing 750,000 jobs per month to five months of job growth now, private sector job growth that is obviously so important to consumer confidence and the well-being of the economy overall.
There is a great concern about the 8 million jobs that were lost during the course of these last two years, and that we’ve got to continually push the pace of economic growth in order to put people back to work.
That, ultimately is the measure for most Americans of how well the economy is doing, and although we’ve seen corporate profits go up, we have seen some very positive trends in a number of sectors.
Unfortunately, because of the troubles that we’ve seen in Europe, we’re now seeing some headwinds and some skittishness and nervousness on the part of the markets and on part of business and investors, and so we’re still going to have to work through that.
Not only will completion of the financial regulatory reform bill provide some certainty to the markets about how we are going to prevent a crisis like this from happening again, but it also ensures that consumers are going to be protected like never before on all the things day to day that involve interactions with the financial system.
From credit card debt to mortgages, consumers are going to have the kinds of protections that they have not had before.
We’re going to be taking a whole range of financial instruments that had been in the shadows and we’re going to be putting them in the light of day so that regulators can provide the oversight that potentially would prevent a future crisis.
We’re going to be in a position to resolve the failure of one institution without seeing it infect the entire financial system.
I continue to be convinced that with financial regulatory reform in place, with a recovery well underway, that we have enormous potential to build on the hard work that’s been done by this team and put people back to work, and keep this recovery and the economy growing over the next several years.
But we can’t let up.
We’re going to have to continue to be vigilant.
