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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