Biden Economy Keeps Defying Predictions

Washington Post: “The Federal Reserve has raised interest rates by 4½ percentage points over the past 11 months, one of its sharpest moves in several decades, in a bid to cool off the economy and ease rising prices.”

“Yet employers continue to hire as if the good times will never end. In January, they added 517,000 jobs — almost twice as many as in December — while the unemployment rate fell to its lowest mark since 1969…”

“This Biden boom certainly is confounding skeptics who have been predicting for months that the Fed’s anti-inflation campaign would trigger an imminent recession. But the economy’s unexpected performance also is testing the ability of policymakers to keep the recovery going.”