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Many in the mainstream media greeted news on Thursday of robust 2.9 percent economic growth in the fourth quarter of 2022 with surprise — shock even. And on Friday, there was more good economic news: Inflation rates dropped in December compared with November, the sixth straight month of declines.
These numbers were often characterized as defying expectations of a recession or despite economic head winds. The Wall Street Journal proclaimed that even though last quarter’s growth was solid, the U.S. economy “entered this year with less momentum as rising interest rates and still-high inflation weighed on demand.” Almost comically, the Associated Press wanted to know: “How will we know if the US economy is in a recession?”
The better question: When will the mainstream media recognize good economic news for what it is?
President Biden took a different…
