The inflation rate coincides with the GDP as it did in the early 1980s. The prediction is that 2022 will be between 4%-5%. Eventually the bubble will burst and the cycle reverses but not in 2022. Time to raise interest rates however to try to get the economy to gradually cool.
2021Gross domestic product accelerated at a 6.9% annualized pace in the fourth quarter, well ahead of the 5.5% estimate.
Consumer activity and business spending led the gains, which propelled the U.S. economy to its strongest full year since 1984.
Jobless claims remained elevated at 260,000 while orders for long-lasting goods hit their lowest point since April 2020, signaling an end-of-year slowdown.