For those seeking expert opinion on the economy's speed and trajectory, the Federal Reserve rendered testimony yesterday:
The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity. Recent data suggest that the solid pace of spending growth has slowed somewhat, partly in response to the earlier increases in energy prices. Labor market conditions, however, apparently continue to improve gradually. Pressures on inflation have picked up in recent months and pricing power is more evident. Longer-term inflation expectations remain well contained.
No decline, no danger — which means, to the disappointment of those placing personal gain above public welfare, no political exploitation.