Employment and wage growth stayed strong through the second quarter, but a variety of indicators point to a slowing US economy. Consumer price inflation hit a new high in June driven by big increases in prices for energy, food, and housing. What is causing today’s inflationary surge? Can the US Fed control inflation and are its efforts to do so likely to turn a slowdown into a deep downturn or recession? How is inflation affecting workers compensation and what have we learned from the COVID experience about the potential effects of a future recession?
These are some of the questions we address in this issue of the
Quarterly Economics Briefing.
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