U.S. Economy’s Post-Pandemic Boom?
The New York Times reports this week that while the economy remains stuck in a pandemic winter of boarded-up stores, high unemployment and slow job growth, attention is shifting in Washington and Wall Street to a post-COVID boom.
As retail sales jump, a survey of economists this month by the Federal Reserve Bank of Philadelphia predicted U.S. output will increase 4.5% this year – the best performance since 1999. Goldman Sachs is forecasting 6.8% growth with 4.1% unemployment by December.
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