Is Pessimism About the U.S. Economy Justified?

Recent press reports and opinion poll results declare the U.S. economy is in worse shape than it was in 2021 through 2024. This impression prevails despite very high gross domestic product growth and falling inflation in the second and third quarters of last year, in the wake of slower growth and steady inflation numbers in the fourth quarter.An accurate gauge of the overall health of the economy is critically important considering the federal government’s assumption of authority and control over the nation’s economic well-being. A false diagnosis will lend credence to bad policy choices.Overall, the U.S. economy is not yet...