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Is the US economy as hot as Donald Trump thinks?

Risks from inflation and a precarious AI boom hover over stellar growth figures

On stage in Davos this week, Donald Trump did not hold back as he claimed credit for America’s gravity-defying economic performance. 

“Growth is exploding, productivity is surging, investment is soaring, incomes are rising, inflation has been defeated,” he told the gathering of the world’s political and financial elite. “We are the hottest country anywhere in the world.”

Presidential hyperbole aside, the world’s most important economy is barrelling into 2026 with growth levels far exceeding the expectations of most economists when Trump returned to office a year ago.

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