The Phantom Economic Crisis

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Acting like our house is on fire when it isn't is foolish and dangerous.

NRPLUS MEMBER ARTICLE W ashington is in an awkward period for good economic news — too late for Donald Trump to claim credit, too early for Joe Biden to. In Washington, news can’t just be good — the question is: Good for whom?

But the news is pretty good: New unemployment claims have just hit another COVID-era low, GDP growth in the first quarter was a robust 6.4 percent, and the growth in wages in that quarter was the best it has been in 20 years or more. There are some areas of concern, of course — worrisome inflation indicators, record public debt, and a

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