The Key to U.S. GDP Growth is Women, Says S&P Global Economists
It's no secret that the financial industry used to be dominated by men, but there are a few women who are breaking the mold and rising through the ranks. Beth Ann Bovino, S&P Global's Chief Economist, was with us to explain how important women are to not only the workforce, but the economy.
Bovino shares the keys for women to overcome obstacles and climb the corporate ladder. One of the biggest burdens women face, she said, is that they don't pursue opportunities because they are held back by the responsibility of childcare. Bovino said companies have been taking steps in the right direction with benefits such as paying for maternity leave and family care. She does think an area of improvement would be "flex time."
In her recent report titled "The Keys to Unlocking U.S. GDP Growth? Women," Bovino highlights the positive impact of female participation in the labor force. If the U.S. had a similar female workforce to Norway, for example, its economy would be $1.6 trillion larger than it is today, according to S&P Global economists.
Where you live can dictate how much you pay for housing. Danielle Hale, chief economist with Realtor.com, joined Cheddar News to discuss where the hottest markets for real estate are and how you can find a home in a current difficult market.
Financial stress can take a mental toll on people. Dr. Regine Muradian, clinical psychologist and member of the National Debt Relief Financial Wellness Board, joined Cheddar News to discuss strategies to ease those worries over money.
The continued resilience of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook.
As the Federal Reserve prepares to hold its annual economic conference in Jackson Hole on Friday and Saturday, its policymakers are trying to guide the U.S. economy toward something akin to what's happening in Jackson Hole.
