Chris Conlon on the Post-COVID Inflation Surge and the Greedflation Narrative
Macro Musings with David Beckworth
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The Kansas City Fed's Causality in Demand, Plan, and Important Story
The US economy is about $2 trillion larger than its pre pandemic trend path. If you take a new Keynesian theory, which would look at the difference between real rates and expected neutral rates, we see a big surge during this period. The Kansas City Fed has causality in the other direction. This to me has been more of an online phenomenon than it is. I think something that's been accepted in the mainstream economics.
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