Seems like a lot of things are in play as far as the US economy is concerned:
- We’re still not out of the pandemic, we have likely another 6 months until we have some resemblance of normal
- Infrastructure bill and corporate tax rates - who knows what the final bill will look like, after Congress slowly neuters it over the next 3-6 months
- Housing market - seems to be on fire, no matter where you look. Housing values have far outpaced wages, and many people will be stretching themselves to afford their houses. Interest rates may rise, which would cool the market somewhat
- Jobs - many, especially on the low end of the economic scale are still out of work
My personal prediction is that we will see higher inflation that we’ve been used to over the past 13 years. Wages will be a laggard, and many people will be hurting. As far as politics are concerned, we will see another 2010 with Republicans capitalizing on people’s outrage and retaking control over the House and potentially even the Senate.