The Unfortunate Cure for ‘Inflation’

Vegetables are pictured at a produce shop at Reading Terminal Market after the inflation rate hit a 40-year high in January, in Philadelphia, Pa., on Feb. 19, 2022. Hannah Beier/Reuters

Commentary 

The U.S. federal government’s Bureau of Economic Analysis (BEA) released its final estimates for real GDP in the fourth quarter of 2021. While the headline was practically unchanged from prior releases, there were minor alterations in some of the data details. Those details, though not earth-shattering, they do provide an important window into the big economic themes dominating 2022 already.