"Resilient U.S. Economy: Rising Growth, Falling Inflation, and Q4's Blistering Pace"

The United States is experiencing a strong economic recovery, outperforming its major trading partners despite lingering consumer concerns over inflation. The economy grew by 3.1 percent over the past 12 months, and annual inflation fell back to the Federal Reserve’s 2 percent target. The U.S. recovery challenges traditional economic beliefs and suggests a new approach to future downturns, relying more on government spending than on the Federal Reserve's control of credit costs. The U.S. response to the pandemic involved significant fiscal support, contributing to the economy's robust performance, higher wages, and a surge in entrepreneurship.