(RightWing.org) – The Wall Street Journal published an article warning that inflation could rise temporarily as the nation’s economy continues reopening in the wake of the COVID-19 pandemic. However, its April 11 article is full of good news regarding the nation’s anticipated economic growth in the next couple of years.
A group of economists surveyed by The Wall Street Journal predicted the country’s economic growth would hit an astonishing 6.4% in 2021. That number reflects a level of growth rarely experienced since the 1950s. They also expect the increase for 2021 to 2022 to be the “strongest two-year performance since 2005.”
Economists also anticipate the largest increase in jobs since 1978 by the end of the year. In real numbers, that means employers are expected to add more than 7 million jobs by year’s end.
Growth this year will reach 6.4%, the best year since '83, economists surveyed by the WSJ say. One downside: they also see the highest inflation since '12, at least temporarily, by @sinoceros and @anthonydb https://t.co/ph6hMwjNdw pic.twitter.com/mI6k0paTiX
— Greg Ip (@greg_ip) April 11, 2021
How is that possible, you might ask. The short answer is former President Donald Trump.
As The Wall Street Journal explained, economists expected “unspectacular growth” for 2021. However, towards the end of Trump’s time in office, the FDA approved two emergency use orders for COVID-19 vaccines, and Trump signed off on a $900 billion economic relief package.
“In terms of magnitude and timing,” the vaccines and COVID-19 relief efforts created “a bigger jolt to the economy than anticipated,” economist Michelle Meyer explained.
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