Despite Inflation And Omicron, A Booming Economy

Published Friday, December 10, 2021 at: 9:12 PM EST

Inflation hit its highest level in 39 years in November, according to consumer-price index data released Friday, with $1 in your pocket today buying 6.8% less than it did last November. And the Omicron variant has fed fears that the nationwide shortage of workers would only worsen and dampen growth in 2022. But despite these very real worries, the fact is that an unprecedented economic boom is underway. The stock market closed at an all-time again. The GDPNow model estimate for real GDP growth for the fourth quarter of 2021, a seasonally adjusted annual rate, is 8.7% on December 9. That’s...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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