Economics
Hotter U.S. Economy Risks Faster Cooldown as Biden Pushes Plan
- Economy set to skyrocket on government-spending surge
- Rapid rebound poses longer-term risks to economic expansion
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The U.S. economic recovery from the pandemic collapse is starting off a lot hotter but could end up cooling much sooner than the record 10-1/2-year long upswing that preceded it.
With a surge of government spending already in train and President Joe Biden’s promise on Wednesday of yet more to come, gross domestic product is primed to skyrocket -- beginning with what some economists see as a double-digit annualized rise in the second quarter.