U.S.: Don't Lose Any Sleep Over Boom And Bust Just Yet

But if the data on spending and output stay this strong, all bets are off

With her classic audacity, Mae West once said: "Too much of a good thing can be wonderful." Of course, she wasn't an economist. Most analysts still believe that the economy's excessively robust pace over the past two quarters will taper off sooner rather than later with only a gentle tap on the brakes by the Federal Reserve. However, this startling strength--and its possible ripple effect through this quarter--is starting to raise some worrisome questions about the outlook.

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