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What will the economy do for an Encore?
What will the economy do for an Encore?
October 26, 2023, 11:09 a.m. ET
Many investors are familiar with Stein’s Law, named after the late economist. Herbert Stein: “If something can’t last forever, it will stop.”
Which brings us to Thursday’s gross domestic product report. The Commerce Department reported that the U.S. economy grew at an inflation-adjusted annual rate of 4.9%, the largest gain since the fourth quarter of 2021, and much higher than the rate of less than 2 % that Federal Reserve policymakers believe is necessary. sit at to avoid overheating.
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