A woman adjusts her facemask while shopping in a clothing store on July 19 in Los Angeles, California. US economic growth “downshifted slightly” in July and August amid shortages of workers and materials, as well as concerns about the rise of the Delta variant of Covid-19, the Federal Reserve said on September 8. Photo: AFP
A woman adjusts her facemask while shopping in a clothing store on July 19 in Los Angeles, California. US economic growth “downshifted slightly” in July and August amid shortages of workers and materials, as well as concerns about the rise of the Delta variant of Covid-19, the Federal Reserve said on September 8. Photo: AFP
David Brown
Opinion

Opinion

Macroscope by David Brown

Inflation is not the worry the US Fed, and the markets, suppose

  • The rise in US CPI unexpectedly slowed in August, which will ease pressure on the Fed to cut short its support for the economy earlier than planned
  • Given the pandemic’s lingering impact on demand and the global supply chain, inflation is unlikely to wreak havoc the way it did four decades ago during the oil price crisis

A woman adjusts her facemask while shopping in a clothing store on July 19 in Los Angeles, California. US economic growth “downshifted slightly” in July and August amid shortages of workers and materials, as well as concerns about the rise of the Delta variant of Covid-19, the Federal Reserve said on September 8. Photo: AFP
A woman adjusts her facemask while shopping in a clothing store on July 19 in Los Angeles, California. US economic growth “downshifted slightly” in July and August amid shortages of workers and materials, as well as concerns about the rise of the Delta variant of Covid-19, the Federal Reserve said on September 8. Photo: AFP
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