US Economy Stalled Under Biden – GDP and GDP Growth Rate Are Slowing
Under President Trump the GDP increased to its highest levels ever in US history. Now after a very strong recovery after the self-mandated COVID-19 shutdowns, US economic growth has slowed since the 2020 election. The St. Louis Fred reported a 4th Quarter GDP of 4.1%. This was way down from the record-setting 3rd Quarter increase…
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Under President Trump the GDP increased to its highest levels ever in US history. Now after a very strong recovery after the self-mandated COVID-19 shutdowns, US economic growth has slowed since the 2020 election.
The St. Louis Fred reported a 4th Quarter GDP of 4.1%. This was way down from the record-setting 3rd Quarter increase in GDP of over 30%. The 3rd Quarter record may realisitically never never be broken, and the 4Q results show the economy slowing. The 4Q results show that the economy in some part was virtually recovered from the self-imposed economic shutdown recommended by the government doctors in March to stop the spread of the China coronavirus:
We reported previously how the US GDP slowed after the election:
The FRED confirms the news that the conomic recovery is slowing since in November of 2020.
The US GDP reached a peak at $19.254 trillion at the end of 2019. Then it fell due to the COVID shutdowns and then rose again to $18.784 trillion at the end of Q4, but this still is not back to where it was at the end of 2019.
There are real concerns that the economy has slowed since the 2020 election.
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