Latest Data Confirms — The Economy is Overheated

Record high growth with record high inflation means the economy is overheated.

The Bureau of Economic Analysis (BEA) just released the first estimate for real GDP growth for the fourth quarter of last year. The economy grew at a 6.9% rate. For the entire year, growth was slightly better than expected, at 5.7%. As was reported earlier this month, the Consumer Price Index (CPI)…