GDP

Congressional forecasters expect the federal deficit will hit the second largest in decades, even without factoring in President Biden's proposed $1.9 trillion coronavirus relief plan.

China is predicted to account for more than a third of global economic growth next year, while the U.S. and European countries will lag behind, according to the OECD.

U.S. GDP grew at a record 33.1% annualized pace in the third quarter, erasing some but not all of the damage done by the coronavirus recession.

The U.S. is expected to report record-setting economic growth in the most recent quarter. But that won't repair all of the damage done during the spectacular downturn three months earlier.

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.