Businesses are spending for the future
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Durable goods orders for March were up, and a new survey from the National Association for Business Economics found that 32% of respondents say their businesses are spending more on equipment, technology and other capital expenditures. Plus, more market reaction to plans for higher taxes on the wealthy. And, France has passed a law to protect the sounds and smells of the countryside as part of its heritage.
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The increase in capital expenditures is one of several signs that businesses anticipate strong growth in the near future.
The market is taking prospects of higher taxes for the wealthy in stride
That's according to Julia Coronado, founder and president of MacroPolicy Perspectives. Coronado said that expectations for very strong GDP growth in the first quarter are probably helping to offset "the pain" of potential increases on taxes for the wealthy. Meanwhile, Coronado said, the Federal Reserve is likely to stick to its "very patient message" that it will not even think about changing policy until there's enough data to prove the economy is in a stable, self-sustaining place.
France has passed a law to protect the sounds and smells of the countryside as a way to preserve French heritage.