Forget the much-discussed prospect of a soft landing for the U.S. economy. In 2023, there was no landing at all. Why it matters: Big economic rules broke last year. The latest data to confirm that is the new GDP report showing very strong economic growth to conclude 2023, even amid a big cooldown in inflation. • Mainstream economists and policymakers believed a period of below-trend growth would be necessary to make progress on inflation. • Instead, above-trend growth in 2023 coincided with inflation falling sharply, reflecting improvement in the economy's supply potential. Driving the news: The economy expanded at a ... (full story)