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Weekly Market Pulse: Same As It Ever Was?
When one thinks back on all that has happened since 2020, it is, I think, amazing how little the US economy has changed over that time. Obviously, the economy was volatile during the shutdown of the economy during COVID and during the period when the economy was re-opening. Real GDP fell over 7% in the second quarter of 2020, rebounded with growth peaking at 12.4% in Q2 2021 but by a year later yoy growth was back down to the pre-COVID trend of 2.4%. It overshot a little to the downside in the second half but the full year 2022 change was 1.9%. Inflation, however, was not as well behaved. In fact, it was so stubborn ... (full story)