Until a tiny 14-year-old girl from Romania scored a perfect ten on the uneven bars at the Olympics in 1976, theoretically, there was always room for gymnasts to do a little bit better.

Since our 2.5% economy is hardly performing like Nadia Comaneci, it's not a stretch to say that things could be better. But according to Doug Cote, chief market strategist for ING U.S. Investment Management, the economy is already better than you think.

"And it's not only the U.S. It's happening globally," Cote says in the attached video, where he cites recent economic statistics out of Europe, Japan and China."It looks like we have a global resurgence going on that's focused on the developed economies and the U.S. is the biggest beneficiary."

While the Federal Reserve just passed on tapering and lowered its GDP growth target for next year, their new 3% projection for 2014 is still an improvement from this year and would mark a growth rate that is closer in-line with long-term averages.

At the same time, the latest data also conflicts the dovishness of the Fed, as the Philadelphia Fed report touched a 10-year high, and existing home sales at their best level in over six years.

Related: No Taper! Dovish Bernanke Fuels Dow, S&P to Record Highs

To play this good-but-not-great growth story, Cote says equities are the place to be. Specifically, he says investors need to be globally diversified beyond the U.S. and the S&P 500 (^GSPC), and would be wise to mimic his bias towards faster growing, small and mid-cap companies.

U.S. stocks rallied 1% across the board after the Federal Reserve announced it will not reduce its $85 billion monthly asset purchasing program. The unexpected decision propelled the Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) to close at fresh record highs, topping the previous records of 15,658 and 1,709, respectively; both set on August 2nd. The Nasdaq (^IXIC) rose 1% to close at a 13-year high of 3,783. And gold prices saw even greater gains than stocks rising over 4% to $1,360 an ounce in after hours trading.

The Fed's decision came as a big surprise to many on Wall Street who were expecting a $10 billion to $20 billion reduction in monthly stimulus.

In a news conference late this afternoon, Fed chairman Ben Bernanke said recent economic data has not provided sufficient reason to begin scaling back stimulus. Further, he insinuated that Washington, DC could be factoring into the central bank's decision-making process, stating "upcoming fiscal debates may involve