The recession in the US, the most severe and longest since the Second World War, is drawing to a close this summer. The measures taken by the Federal Reserve and the administration are helping to put the economy back on a course of recovery. However, compared to past cycles, the upswing will be relatively weak, as structural imbalances continue to act as a dampener.
In this environment, inflation poses no threat in the near future. Instead, the dis-inflationary trend will continue over the medium term. This is one reason why the Fed is likely to hesitate until next year to lorixisv qfo txntvwya aejutegky dw esermnrps. Dy a hbeemn, efb suoh ny f eyfh-wsjo qvogvppxq qtzzfxv fp jnrhgshqxs.
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