Immigration is Actually BOOSTING the Economy?!

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(VitalNews.org) – The immigration issue in the country has caused a lot of different controversial opinions, but it might be helping the United States more than people think.

Joyce Chang, who is chair of global research at JPMorgan, said that immigration has been “underestimated” and that it has significantly helped the economy. The Federal Reserve has increased its growth projection for this year after looking at the trends in the economy and inflation.

The economy has been surprising as many thought that we’d go into a recession, but with the economy standing tall and the job growth continuing, we’ve seen more positive effects.

Analysts have said that the U.S. population is six million people larger than it was a couple of years ago and immigration plays a huge part in that, but that these “issues” are actually helping out our economy.

Change compared this to Europe, saying, “From everything that we have seen, the revenues that are generated exceed the expenses. Now it is a political issue, not just here in the U.S. but you look at Europe, it’s also probably the No. 1 issue right now, but we do think that when you look at the unemployment numbers, the strength of consumption, the immigration was a big part of that.”

She also stated a few reasons why the U.S. has an advantage over other countries when it comes to the economy, and those reasons are the high fiscal deficit and the energy dependence of the country.

With this said, the Federal Reserve is looking into cutting interest rates once the inflation percentage has dropped to a feasible number, and with the economy going the way it is, this might be possible. One thing that may skew the results is the election year, which Chang said will mean that spending is high up until the end of September and right before the election.

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