Stephen Moore goes to Cleveland

Stephen Moore recently withdrew as a nominee for the Federal Reserve Board, but he had a look at Cleveland in his report on “Ohio The Comeback State” at Townhall:

I recently traveled to the Cleveland area and the renaissance of this once-Rust Belt city is remarkable and visible to the naked eye. The downtown area was bustling with economic activity and building cranes. Great restaurants, a vibrant music scene, museums, wonderful and accessible sports stadiums and swanky new office buildings and condominiums.

Research by the Federal Reserve Bank of Cleveland documents that thanks to the increase in jobs in construction and manufacturing, the unemployment rate is down to 5.1% and the "labor markets remain healthy." Per capita GDP rose 3.4% in 2017 and the per capita GDP is closing in on a record-high $70,000 a year.

Cleveland certainly has its problems, but it’s nice to read some good news. The rest of Mr. Moore report is here.

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