Fed's Strategy, Market Expectations, and Policy Critique

A large part of the world is not working today, in celebration of workers. But the old order is changing—and increasingly we may need to celebrate profits. One of the features of the pandemic was an explosion in small business creation. More people have side hustles: Selling on eBay; renting on AirBnB; writing economic books that are widely available for purchase. Self-employment and contract work have increased. The income from these endeavours is often classified as profits.