"What the critics don't mention is the fact that inflation is typically tied to rapid economic growth. In fact, high inflation is often a sign that the economy is overheating.
As the BLS chart shows, inflation rocketed between January 2021 and June 2022, when it peaked. This coincided with an economic growth in 2021 not seen in nearly 40 years. That year, the U.S. gross domestic product increased 5.8% (5.9% by some measures), the highest growth since 1984.
The unemployment rate also plummeted during that period and has remained at historically low levels — under 4% — since the end of that year.
The economy benefited from a hefty fiscal package conceived by the Biden administration to help the country recover from the effects of the COVID-19 pandemic, Reuters reported, despite supply-chain issues it caused."
