Over the past 14 quarters, since the global economy screeched to a halt in the face of the COVID pandemic, U.S. gross domestic product — the value of all the goods and services produced within this country — has surged by an astonishing 40%.
Why it matters: This is an unprecedented — and largely unheralded — economic miracle, one that nobody expected during the depths of the COVID recession.
By the numbers: The benchmark cocoa contract, traded on the Intercontinental Exchange in New York set a new record on Friday, crossing $8,100 per metric ton. That's a 215 percent jump from last year, when prices were just $2,578.
Inflation is a term that means very different things depending on whether you're talking to an economist or just a normal American.
Why it matters: If you look at the prices that are top of mind for regular folks, inflation turns out to have been astonishingly high in mid-2022 — far higher than the headline Consumer Price Index. Now, however, it's at a very benign 2%.
A missing panel was discovered after a United Airlines' Boeing 737-800 aircraft landed on Friday, the airline company confirmed to Axios.
The big picture: The incident happened as the Biden administration sought to reassure Americans of the Federal Aviation Administration's "increased safety oversight of Boeing," per CNN.
