Replies to post #25070 on Trump Media and Tech Group (Politics Allowed~Non-M

[satter]

Your constant lying does not bolster your Maga dishonestly, it only discredits you. The world knows inflation was global and you said it is well documented. Yes it is. Facts are that under Biden, the US in the Global problem has done much better than most other countries, yet you claimed he did nothing, meaning you just spouting purposely a lie without knowing or looking at the facts, pick your Maga intentional misrepresention ( lie )

It is well documented that under Biden the US fared much better than its allies.

"The US has seen its GDP grow by a total of 7.4% since the fourth quarter of 2019, according to seasonally-adjusted figures from the OECD[color=red][/color]

Canada and Italy hovered between 3-4% cumulative growth over that period, while Japan, the United Kingdom, France, and Germany grew 2.4%, 1.8%, 1.8%, and 0.3%, respectively.

Among countries that use the euro, the combined GDP grew at a 0.1% annualized rate in the third quarter of 2023.
US GDP growth reflected increases in consumer spending, state and local government spending, and exports, among other increases, according to the BEA. And despite smaller job growth compared to 2022, payroll employment rose by 2.7 million in 2023.

"Better-than-expected consumer spending was the primary fuel for the strong pace of growth in last year's fourth quarter," Russell Price, chief economist at Ameriprise, told Business Insider. "Although we expect some deceleration this year, we believe consumers are generally in good shape to further fuel a solid pace of growth through 2024 and possibly beyond."

Consumer strength, as well as relatively low consumer debt burdens and the remnants of pandemic stimulus and savings, bodes well for the US, in his view.

To that point, in a report published Tuesday, the International Monetary Fund raised its global growth forecast for the year from 2.9% to 3.1% largely on account of better-than-expected US expansion. IMF economists anticipate US GDP to grow at an annual rate of 2.1% in 2024, more than double its forecast for all other members of the G7.

Inflation

The US has also seen a promising trajectory for inflation. Government data released earlier this month showed the consumer price index climbed 3.4% annually in December. That's fallen from multi-decade highs in 2022, though it remains above the Federal Reserve's 2% target.

According to the latest available data on the cohort, inflation remains highest in France and the UK at 4.1% and 4%, respectively.

As far as monetary policy, it's up in the air when the Fed will begin easing interest rates. But markets have priced in five cuts for the year, optimism that has in part been reflected in the strong stock market rally in January.

Inflation Rates By Country: How Does The U.S. Stack Up?

So while inflation looks like it might be starting to turn a corner in the US, in many other countries around the world it continues its relentless march upwards

So where does the US sit in the grand scheme of things?

While we’ve not been too happy with inflation running from high single digits to low double digits, we’re actually doing pretty well compared to the worst hit countries. Now obviously the majority of the places experiencing the worst inflation rates in the world are going through some serious economic turmoil.

[Itchy palm]

Zero was done in 2020