Sen. Martin Heinrich

JEC News:

WASHINGTON, D.C. — Sen. Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement Thursday after the Bureau of Economic Analysis (BEA) reported its initial estimate that real fourth-quarter gross domestic product (GDP) expanded 3.3 percent on an annual basis.

“All signs continue to point to a stable and growing economy. We closed out last year with strong economic growth, led by increases in consumer spending, exports, and investment. We continue to avoid the recession that naysayers have continually predicted, seen unemployment remain low, and found that real wages are up over the last year.

“Overall, the economy is better for American families today than it was a year ago, and it is better today than it was three years ago, before President Biden took office. We need to keep building on that progress this year, and I’ll continue working with this administration and with my colleagues in Congress to do so.”