Commentary  The U.S. federal government’s Bureau of Economic Analysis (BEA) released its final estimates for real GDP in the fourth quarter of 2021. While the headline was practically unchanged from prior releases, there were minor alterations in some of the data details. Those details, though not earth-shattering, they do provide an important window into the big economic themes dominating 2022 already. America’s economy is grappling with two features that otherwise seem opposed to one another. On the one hand, consumer prices have accelerated to the point they’ve become the dominant issue in every context; political, social, as well as economic. On the other, the concept of demand destruction which more and more has motivated the world’s biggest markets to brace for recession. Not all consumer price outbursts are inflation; actual inflation is due to excessive currency, or, colloquially, money printing. Despite many years of blame and suspicion, the Federal Reserve …