The rest of the world is experiencing an economic slowdown.  The graph below shows the world's 12 largest economies.  According to statistics for the most recent economic quarter, the only two currently growing faster than a 1% annual rate are the United States and China.  And the United States grew faster than China. The United States is currently experiencing the longest economic expansion in American history, and Federal Reserve chairman Jerome Powell expects that expansion to continue.  In Zurich on Friday, he began a speech by stating: The United States economy has continued to perform well and is in a good place. In fact, we're well into the eleventh year of this expansion which began back in the second half of 2009. It's now the longest such expansion since we began keeping reliable records. And the most likely outlook for our economy remains a favorable one with moderate growth, a strong labor market,...(Read Full Post)