The three goals of macroeconomic policy are (1) minimize unemployment, (2) minimize inflation, and (3) maximize economic growth. Obviously, these goals have elements that conflict with one another. Which one is doing the best job of accomplishing in the U.S. currently, and which one should receive greater priority than the other ones?

According to the U.S. Bureau of Labor Statistics, the unemployment rate was 3.7% in 2019. There is a belief that the ideal unemployment rate is 0%, however, this is incorrect. If the unemployment rate was 0% the economy would be in an overheating danger. Additionally, there is always seasonal and structural unemployment. Some economists state that an ideal unemployment rate is between 3.5% and 4.5%. Therefore, a healthy unemployment rate in the U.S. was accomplished.

As reported by StatBureau, the inflation rate in the U.S. reached 2.28% in 2019. The previous rate ranked the U.S. as the 11th country with the lowest inflation rate in the world. Usually, the Central Bank of each country set a target inflation rate, however, the Federal Reserve has not set it. Nevertheless, some policymakers and economists believe that a healthy inflation rate is below 2%.

Based on the data from the U.S. Bureau of Economic Analysis, the U.S. real GDP increased by 2.3% in 2019. This GDP growth is a good indicator of a developed economy. Many economists think that the ideal GDP for an industrialized country is between 2 and 3%.

In conclusion, all the indicators show that the U.S. had a healthy economy in 2019. However, the best indicators were the unemployment rate and economic growth. On the other hand, the inflation rate was above the ideal so probably that is the metric that the U.S. needs to prioritize.