Kelly Evans: The completely misunderstood U.S. economy

The only thing I’d say about Friday’s incredibly strong jobs report is that it makes far more sense that it was strong than that it would have been extremely weak. And anyone who is confused that it was strong is really confused in a much larger sense about what’s actually going on with this economy.  

The U.S. economy is and has been running too hot and not too cold. Think about it this way: Nominal GDP - Inflation = Real GDP. Inflation has been hitting 9% in recent months, which itself is...