Unhappy to Be Stuck with 2 Percent Growth

A trader on the floor of the New York Stock Exchange in New York City, January 28, 2020. (Bryan R Smith/Reuters)
We’ve been there for a very long time, and there’s no obvious, easy way to drive it higher.

NRPLUS MEMBER ARTICLE R eal GDP grew at a rate of 2.13 percent from the first quarter of 2013 through the fourth quarter of 2016; from the first quarter of 2017 through the end of 2019, the rate was 2.35 percent. Who knew that a difference of 0.22 percentage points would turn out to be the difference between an economy that is “carnage” and an economy that is “the best in the world, by far,” between “anemic” and “booming”? I am racking the old noodle trying to think of a variable that explains this sudden change in the mood with which the nation’s political


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