The US economy grew faster than expected in 2021, but the pandemic transformed its composition - Jason Furman and Wilson Powell III

January 27, 2022, Opinion: "US GDP growth accelerated in the fourth quarter, growing at a 6.9 percent annual growth rate, an increase from the pace of growth over the previous four quarters as the economy continues to recover from the effects of the COVID-19 pandemic. GDP growth in the fourth quarter was entirely accounted for by increased inventory investment and increased service spending. Over the four quarters of 2021, real GDP grew 5.5 percent, the fastest pace for any year since 1984"

HKS Author - Jason Furman and Wilson Powell III