This session will discuss the current state of the U.S. and Texas economies as well as GDP, unemployment, inflation, interest rates, and other economic indicators. The economic impact of the Federal Reserve’s actions and the Federal government’s fiscal policy will also be discussed. At the end of this session, attendees should have a better understanding of the relationship between GDP growth and unemployment as well as between interest rates and recessions. Attendees will also be able to make an informed judgment about the future direction of the U.S. and Texas economies.