Alternative Visions - Unpacking US GDP 2021 + Will Fed Interest Rates Halt Inflation?

The Biden administration this week hypes the 2021 US GDP release of 5.7% growth for 2021 as ‘fastest growth in 38 years’. Yet poll after poll show US households very downbeat and negative about the course and future of the US economy. Who’s right? The politicians or consumers?  This show will unpack the just release preliminary figures for US GDP for 2021 and for latest 4th quarter. Why the hyped 5.7% is not all that relevant for the average consumer and household—whether measured in inflation, jobs, wage incomes or even future GDP growth in 2022-23.  What’s the real rate of inflation and thus actually lower GDP? Why GDP has been over-inflated since 2013. Why sectors of GDP growth in 2021 are set to slow in 2022.  The second major announcement of last week was Fed chair Powell’s declaration that interest rates will rise starting March 2022. Why rate hikes won’t halt inflation, however, and may actually slow the real economy and push financial markets toward more instability.