DENVER, COLORADO, US – The US economy continues to outperform expectations as stimulus funds are fueling robust consumer spending. Consensus forecasts point to 7% GDP growth for 2021, the fastest rate of expansion since 1984, according to the new The Quarterly report from CoBank’s Knowledge Exchange.  Inflation is inevitable, however, as the 2020 price declines will widen year-over-year inflation over the next two quarters, and new upward price pressure should push headline inflation above 3%.

The transition to a less COVID-restricted world has begun. But for the economy and rural industries, there will be no going back to pre-COVID conditions, according to the CoBank analysis. A transformed policy environment and awakened commodity markets are making way for a whole new operating environment, it said.

“The policy focus in Washington is shifting from crisis management to building for the future,” said Dan Kowalski, vice…

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