The pandemic threw cold water on the inflation rate in the US, but the price level is beginning to heat up. The country is bursting at the seams with pent-up consumer demand, but much will depend on the rate-setting actions taken by the Federal Reserve. How hot will the central bank let it get before raising rates to turn down the heat?
Diane C. Swonk
The good news is that economic growth globally is strong, with a few exceptions, as the world shakes off the effects of the Great Recession. But economists are uneasy about troubling undercurrents, such as protectionist trade policies, that could whip up into a global trade war. Most are hoping that trade relationships can be repaired, acknowledging that the time is now to rebuild rather than burn bridges.