top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economy

27 Jan 2022

U.S. Economy Saw Best Growth since 1984 with 1.7% Boost in Q4 of 2021

The Index Today

The fourth quarter of 2021 witnessed a record growth for the U.S. economy with a 1.7% increase as the annual gross domestic product gained at a 6.9% annual rate. This is a remarkable boost for the country since 1984 as it grew by 5.7% last year.

This increase in growth can be attributed to low interest rates and financial stimulus assistance in the country. However, it tapered off towards the end in December due to the arrival of the Omicron variant of COVID-19 which wreaked havoc across the globe through its rapid spread and the resulting restrictions.

The strong economic growth in 2021 has informed the Federal Reserve’s current decision to institute interest rate hikes this year with the first of them coming into effect in March. Fed Chairman Jerome Powell contended, “The economy no longer needs sustained high levels of monetary policy support.”

Although last year’s positive economic boost spells hope for U.S. President Joe Biden, it presents a limitation on government-sponsored funding.

Clay pottery with table linens
bottom of page