The US economy grew much faster than expected in the June quarter: at an annualised rate of 2.8%, compared to market expectations of 2% annual growth, according to the first set of data for the quarter from the US Commerce Department, released last week. Better still, price indices fell sharply from the first quarter.
“Is the US economy growing too quickly?” tweeted New York Times Pitchbot, an account that lampoons The New York Times’ incessant efforts to always find something bad to say about the Biden administration in its quest for balance at all costs.
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