Posted on Jan 28, 2022
Believe it or not, the economy grew last year at the fastest pace since 1984
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https://www.npr.org/2022/01/27/ [login to see] /economy-gdp-pandemic-omicron-delta-inflation-labor-shortages-supply-chain
Last year saw the fastest economic growth since Ronald Reagan was president. But for many people, 2021 felt less like "Morning in America" and more like a restless night, dogged by fitful dreams about the ongoing pandemic.
The Commerce Department reported Thursday that the nation's gross domestic product grew 5.7% last year — the biggest increase since 1984. But the growth arrived in fits and starts, with hopes for a steady recovery repeatedly dashed by successive waves of infection.
And now, uncertainty continues in the year ahead, as the omicron variant continues to spread. Meanwhile, the Federal Reserve is gearing up to raise interest rates, perhaps aggressively, in an effort to combat stubbornly high inflation.
"It wasn't a straight line for the economy last year, for sure," said Mark Zandi, chief economist for Moody's Analytics. "The economy remains tethered to the pandemic."
Last year saw the fastest economic growth since Ronald Reagan was president. But for many people, 2021 felt less like "Morning in America" and more like a restless night, dogged by fitful dreams about the ongoing pandemic.
The Commerce Department reported Thursday that the nation's gross domestic product grew 5.7% last year — the biggest increase since 1984. But the growth arrived in fits and starts, with hopes for a steady recovery repeatedly dashed by successive waves of infection.
And now, uncertainty continues in the year ahead, as the omicron variant continues to spread. Meanwhile, the Federal Reserve is gearing up to raise interest rates, perhaps aggressively, in an effort to combat stubbornly high inflation.
"It wasn't a straight line for the economy last year, for sure," said Mark Zandi, chief economist for Moody's Analytics. "The economy remains tethered to the pandemic."
Believe it or not, the economy grew last year at the fastest pace since 1984
Posted from npr.orgPosted in these groups: 
Economics
Economics
Posted 3 y ago
Responses: 2
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This may come as a surprise to most because most people didn't feel the boom in prosperity last year. The stock market gaining and billionaires becoming wealthier may lift the economy, but not much else. I'm happy to see us not bottoming out, but we need to keep things in perspective.
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Why isn't the administration glowing (gloating) over this achievement instead of calling all who disagree with them racists, bigots and enemies of the state?
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PO1 John Johnson
If they start gloating, the bloom comes off the rose. In 2020, the economy tanked due to worldwide Covid, pure and simple and Biden policies it only exacerbated in 2021. "The fastest growth since 1984"? It had nowhere left to go but up and start growing. Let us know when it hits pre-Covid Trump levels again; that will be the true sign of a "recovering" economy. With respect to "racists, bigots, and enemies of the state"; why that's just page 17 of the Left's victim playbook so nothing new there.
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