The economy has resumed its pre-pandemic course

After all the economic shocks since 2020, one key measure of the economy is almost back to its pre-pandemic trajectory.

That's according to the country's first estimate for the fourth quarter, released this week by the Bureau of Economic Analysis. Harvard University economics professor and former chief economic adviser to President Barack Obama, Jason Furman, noted that the estimated annual growth rate of 2.9% puts the nation's overall economic output slightly below the same trajectory projected by the Congressional Budget Office in January 2020. Twitter.

In other words, the economy is “basically back to its pre-pandemic forecast,” Furman said.

However, it is not guaranteed to stay this way – many experts believe that the economy will be affected by the Federal Reserve.

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