If BBB doesn’t become law, real GDP growth in 2022 will be lower by 0.5% and reaching full-employment next year will prove elusive. Fallout will be quick as families w/ children will lose a tax break. Hard to see the Fed hiking rates 3 times next yr, as investors now anticipate.
Conversation
Replying to
Without BBB, the economic recovery will be vulnerable to stalling out if we suffer another serious wave of the pandemic; an increasingly likely scenario with Omicron spreading rapidly. Detractors of BBB worry about inflation, but without it, the worry is more likely to be growth.
11
130
379
There is still hope #BBB in some form will become law, but if so, it will surely be a shadow of what was being negotiated. What a shame. It puts the economic recovery at some risk in the near-term and will diminish the economy longer-run. And what about climate change?
16
94
362
Replying to
The Fed considers "full employment" to be 5.2%. We are at 4.2%. So you don't have to worry about reaching full employment - we're already there.
1
Replying to
Salam, you can read it here: If BBB doesn’t become law, real GDP growth in 2022 will be lower by… threadreaderapp.com/thread/1472912 Enjoy :) 🤖
7
5
Replying to
LMAO!
Quote Tweet
2021 over 2020 US
-Avg pay increase: 2.9%
Avg rent: up 16.5%
Avg heating fuel: up 33% oil, 42.2% propane, 14.4% nat gas
Avg grocery prices: up 5.4% (Sept '20 to Sept '21)
Petrol: up 45% (projected increase '20 to June '22)
Outsourced mfg jobs (Jan 2021 to Spring 2022): 1M
Show this thread
1
Show replies
1
1
4
Show replies
Replying to
It seems USA citizens are becoming more more reliant on the goverment!