U.S. GDP was disappointingly weak for the fourth quarter of 2014. We saw a rate of 2.22% growth, compared to 5% growth in the third quarter.
Consumption grew by 2.98%, showing that consumers are still in the game, but investment fell to only 0.72% growth.
Meanwhile, exports were bad at -1.03%, the combined result of a much higher dollar compared to other currencies (especially the euro) and weaker growth in the EU and China.
While the economy keeps growing, we really need a full year of 3% to 5% quarterly growth before we can say we are fully out of the woods.
Even with national unemployment looking rosy at 5.5%, we still have not erased considerable underemployment.
Jobs, the economy, and growth must be number one on all policymakers' agendas.