IWL - We Are Now Essentially In Economic Nirvana

• All of the recent positive economic news caused the IMF to raise its 2021 U.S. GDP forecast by a giant step to 6.4% (from 5.1% previously estimated). That would represent the strongest annual economic growth rate since 1984.
• The one warning flag is inflation. Producer Price Index rose 1% in March (a 12% annual rate), substantially higher than the economists' consensus expectation of a 0.5% increase.
• Ford and General Motors announced that they are idling or extending plant closures due to the ongoing semiconductor chip shortage.

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