A growing economy is like a fire—the hotter it burns the more quickly it burns out. That should worry investors betting that the U.S. can continue its scorching recovery from the Covid pandemic.
There’s no doubt the economy is zipping along. Gross domestic product grew at a 6.4% clip during the first three months of 2021, and could grow more than 10% during the second quarter of the year. Other measures of economic growth, from retail sales to the Institute for Supply Management’s manufacturing and nonmanufacturing surveys,…
