America’s first inflation crisis in decades, combined with the Federal Reserve’s aggressive interest rate hikes to combat it, has made for a topsy-turvy past couple years on Main Street and Wall Street alike. It has weighed on consumers and kept investors constantly second-guessing themselves.
A chainsaw-wielding, self-professed “anarcho-capitalist” is now one step closer to overhauling Argentina’s beleagured economy by throwing out the nation’s peso currency and adopting the US dollar as legal tender.
The Commerce Department is set to report third-quarter gross domestic product Thursday. It’s the broadest measure of economic output, and it’ll likely show that the US economy expanded at a staggeringly rapid pace from July through September, despite higher interest rates, depleted pandemic savings and high inflation.