Normalcy in the Markets and Nominal GDP Growth

Rick Reader discusses how the world has reached a point of normalcy in the markets and predicts a nominal GDP growth of 4% this year, indicating a return to more typical levels. He notes that the economy is operating at a good level and that the direction is towards trend growth rather than a soft or hard landing. Reader believes that the economy is less sensitive to interest rates now, with a majority of it being service-oriented and not interest rate sensitive. He argues that the Fed should bring rates down to help lower income individuals, local banks, and commercial real estate.