Chart: Center for American Progress. Sources: Author's calculations using U.S. Bureau of Economic Analysis data in Federal Reserve Bank of St. Louis (FRED), "Real Gross Domestic Product," available at https://fred.stlouisfed.org/series/GDPC1 (last accessed August 2022); U.S. Congressional Budget Office data in FRED, "Real Potential Gross Domestic Product," available at https://fred.stlouisfed.org/series/GDPPOT (last accessed August 2022); U.S. Bureau of Labor Statistics data in FRED, "Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average," available at https://fred.stlouisfed.org/series/CPILFESL (last accessed August 2022).