The US economy has been able to avoid overheating thanks to effective and prompt measures taken by the government. Analysts are confident that the boiling point has been passed. Now, the economy is cooling down and stabilizing after being almost overheated by runaway inflation. Top White House Economic Adviser Cecilia Rouse voiced such an opinion.
This year, there was a real danger that the American economy would become overheated due to soaring inflation. "We’re starting to see signs that the actions they are taking are having an effect. We’re also starting to see signs that our red-hot economy is starting to cool. And so we know that because of that strength … we’re better positioned than most other countries for the Fed to achieve its goals," Rouse said.
The government has succeeded in cooling down the economy thanks to well-thought and effective measures aimed at combating galloping inflation. Therefore, they managed to avoid devastating consequences. The Biden administration, which has been severely criticized in recent months because of high prices for goods and services, has done a great job.
