# Output Gaps: the present versus the Great Inflation

By David Beckworth [@DavidBeckworth](https://twitter.com/DavidBeckworth)

"Here's a chart from it comparing Nominal GDP deviations from trend for the Great Inflation versus deviations forecasted over next decade. Hard to see 1970's-type inflation spiral in that forecast."

@Ncharts https://charts.alphacast.io/p/alphacast/bea/activity---usa---bea---nominal-actual-and-potential-gross-domestic-product?tab=chart&stackMode=absolute&time=1963-01-01..1974-01-01&region=World https://charts.alphacast.io/p/alphacast/bea/activity---usa---bea---nominal-actual-and-potential-gross-domestic-product?tab=chart&stackMode=absolute&year=latest

@Ncharts https://charts.alphacast.io/p/alphacast/bea/activity---usa---bea---real-actual-and-potential-gross-domestic-product?tab=chart&stackMode=absolute&time=1963-01-01..1974-01-01&region=World https://charts.alphacast.io/p/alphacast/bea/activity---usa---bea---real-actual-and-potential-gross-domestic-product?tab=chart&stackMode=absolute&region=World

@chart https://charts.alphacast.io/p/alphacast/bea/activity---usa---bea---output-gap?tab=chart&stackMode=absolute&time=1949-01-01..2021-07-01&region=World

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">A new article with <a href="https://twitter.com/Pat_Horan92?ref_src=twsrc%5Etfw">@Pat_Horan92</a> on why the π surge should fade next year. <a href="https://t.co/24eFtGaSmC">https://t.co/24eFtGaSmC</a> Here&#39;s a chart from it comparing NGDP deviations from trend for the Great Inflation versus deviations forecasted over next decade. Hard to see 1970&#39;s-type π spiral in that forecast. <a href="https://t.co/yq772WQlap">pic.twitter.com/yq772WQlap</a></p>&mdash; David Beckworth (@DavidBeckworth) <a href="https://twitter.com/DavidBeckworth/status/1472980250938286082?ref_src=twsrc%5Etfw">December 20, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

## Related Dataset

[Activity - USA - BEA - Gross Domestic Product](https://www.alphacast.io/datasets/6722) 

Alphacast

This repository compiles the contributions of the Alphacast team on various current topics in the global economy.

Output Gaps: the present versus the Great Inflation

Output Gaps: the present versus the Great Inflation

Related insights

Hands-On: Calculating South America's population growth with Alphacast

Read more Alphacast Highlights here