Disappointing economic growth proves Covid remains the biggest problem for Joe Biden

 Disappointing economic growth proves Covid remains the biggest problem for Joe Biden
In other words, the economy’s growth slowed from its hot 6.7% second-quarter pace largely for the same reason job growth in August and September fell short. It’s also a major reason that, to the chagrin of American consumers and the White House alike, inflation shows no sign of subsiding anytime soon.
The reason is the persistence of the novel coronavirus, which continues to shape the contours of economic performance in the US and around the world. After rising vaccinations pushed down the pandemic earlier this year, the surge of the Delta variant pushed right back.

“The main reason for the slowdown is the Delta variant,” said Jan Hatzius, chief economist for the Wall Street firm Goldman Sachs.

“It’s clear what’s happened to GDP,” added Betsey Stevenson, a University of Michigan economist who advised President Barack Obama in the White House. “It’s being affected by Covid, not just in the US but around the world.”

“The pandemic,”…

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