The gross domestic product is a measure of all the goods and services an economy produces. For the second quarter of this year, the U.S. economy grew at a stellar rate of 4.1%. Today on the show, we take a deep dive into everybody’s favorite economic indicator: How is it measured? Why is it so high? Will it continue?
For what it was worth, it serves as a decent primer on the GDP. However, the hosts of the show left out the problems of too much growth, which is what the fed was responding too when they raised interest rates recently. Here’s hoping that the Fed acted severly and quickly enough to stop that scenario.
As several people pointed out on Facebook, the growth rate was over 4% several times during the Obama administration. So, not unheard of and not nearly as impressive as the OHM was making it out to be. Additionally, the cautions that were mentioned at the end of the show are well founded. I certainly wouldn’t be counting on this growth rate continuing. Too many indicators pointing in other directions.