Biden-era spending has turbocharged growth — but the resulting debts may bring pain. When the stimulus and other temporary boosts wear off, the American economy could settle into a long, slow grind.
The American economy is estimated to have grown at 3 per cent or more this quarter, a pace as blistering as it was unforeseen. Economists had not predicted a recession before last year, but then most began to think a US downturn was inevitable, as a result of interest rate rises.
Instead, we got a mini growth miracle. So what happened?
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Financial Times
Ruchir Sharma is a writer and investor, and the author of four books, including most recently "The 10 Rules of Successful Nations". He is chairman of Rockefeller International.
