As everyone predicted, economic growth in the final quarter of 2023 was excellent:
Over the last year and a half, GDP growth has averaged about 3%. This is a nice, healthy growth rate, but without being so high that it threatens to overheat the economy and reignite a surge of inflation. This trend continued in Q4, which produced basically the best number we could have hoped for.
It's NEITHER inflation NOR recession! It's TOTALLY UNKNOWN!! Uncertainty coming to EET US IN OUR BEDZ!! We're all gonna DIE!!
Biden couldn't have asked for a more perfect Q4 number: strong, and a nice cap off to 2023, but a bit of a cool down from Q3's more torrid pace, which is desirable, given the Fed's obsession with inflation. I would guess some monetary easing will be in store for this spring.
You know Diaper Don is pissed after he predicted a economic collapse
He'll get his revenge. He'll cause one. That'll show those libz!
correction, another one
That never happened. Those numbers were just made up. It didn’t happen when he was in office. It was Obama’s fault. Librul media lies. The economy was never greater. You need to watch what you say because people know who you are.
This morning, before the release, msnbc (or was it CNN? who can tell the difference?) was trying to convince me the growth number would be a weak and disappointing and "oh noes! the economy!" 2%. Too bad I didn't see them reporting on the actual number.
Under the assumption that monetary policy did affect the trajectory of the economy -- but only to close the labor supply-demand gap and effectively slow wage growth(1), which in turn tempered y/y inflation -- without slowing (real) GDP, would you not say this was a soft landing?
Or alternatively, when will the last of the variable lags of monetary policy drop?
(1) Personal income (wages and salaries): Q1.2023 = 2.19%; Q2.2023 = 1.45%; Q3.2023 = 1.37%; Q4.2023 = 1.12%
Kevin, you know better. GDP did not "rise a healthy 3.3% in Q4". GDP grew at a 3.3% annual rate in Q4.
If someone else writes your headlines, give him a prod about that.