Consumer inflation and real growth rate of change, about equal since 2016, and that seems normal. 2015 seems odd with real growth much higher than inflation.
The related question, how come our 82 yard can kick is still on target with 55 yards to go? How can this economy manage with a one to ten year slope of 40 basis points?
We will not know until we see the next recession, at which time we will get backward revisions to real growth..
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