Will high interest rates cause a housing crash?
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The Effects of COVID on Inflation
Coming out of COVID, the labor market had changed and it changed in ways that we didn't quite expect. A whole cohort of people in their 50s and 60s decided to retire early. So we lost millions of workers. And then the war in Ukraine breaks out and prices are going even higher. At the same time as we come out of CO VID, we suddenly have fewer people coming back to work.
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