US Economy Grew 5.7% in 2021 Rebounding From Recession

What Happened:

• According to a report released by the Commerce Department on Thursday, the US economy grew 5.7% in 2021, rebounding from the 2020 recession. This is the largest single calendar-year growth since 1984.

• The economy ended the year with a heightened 6.9% growth pace from October to December.

• Despite the rebound, inflation and another surge of Covid-19 cases have led economists to expect slower growth this year.

• The FED announced Wednesday that it would be anticipating interest rate hikes to start in March of this year to help curb inflation.

Photo Source: Wix Media

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