U.S. Economic Growth Upwardly Revised For The Third Quarter

  • White House officials have downplayed inflationary pressures and other economic turmoil.
  • After the release of the preliminary third quarter output forecast, Biden claimed that “doomsayers” had been “rooting for a downturn” while falsely arguing that the nation had been in a recession.
  • Despite rising price levels and supply chain bottlenecks, the United States is comparatively more robust than other major economies, as Europe struggles with energy shortages and China suffers from strict government lockdowns.
  • The dollar reached parity with the euro this year for the first time in two decades.
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