The U.S. economy tripled its rate of output in the fourth quarter, an indication that signs of a recession are slim. That puts opposing politicians in a corner as they look for a something to criticize the current government administration in Washington.
Not that they will stop blaming Democrats for what they claim is a dwindling economy that was strengthened during the previous GOP administration. Economists point out that the Trump administration inherited a strong economy, but it faded over his four-year term.
Real gross domestic product (GDP) rose at an annualized rate of 6.9 percent in the fourth quarter of 2021, compared to 2.3 percent in the third quarter.
A growth rate of about 2 percent is considered normal and safe, while a negative rate for two consecutive quarters establishes a recession.
The current strong growth rate will be cheered by many, but other economists will warn it's too strong. That may be why the Federal Reserve Board will boost interest rates, its way of preventing a dangerously high increase.
Already, prices have been rising, but consumers feel income hikes do not match price hikes.
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