After months of lambasting former President Donald Trump for mishandling the economy amid the pandemic, President Biden is starting his administration enjoying a favorable economic outlook — an enviable position for a new president but one that economists warn could be wasted with unnecessary or damaging policies.

The economy is projected to grow in 2021 at its fastest rate in 17 years, according to a report from the Congressional Budget Office this week, thanks to the legislation passed so far and the record-breaking pace at which numerous successful vaccine candidates were developed, authorized, and distributed.