Current,The U.S. economy has experienced severe inflation。From the surface,Shortages and disruptions bet365 Play online games supply of goods、Factors such as shortage of local skilled workers and housing,This all causes price increases、Important factors of inflation。To this,Fed Chairman Jerome Powell and the Federal Open Market Committee described these factors as “temporary”,And forecast U.S. core PCE inflation to average 2 in 2022 and 2023.1%,Significantly lower than 2021 4.The average inflation rate is about 7%。However,Many scholars believe that,It is difficult for the U.S. economy to recover and transform from the COVID-19 epidemic。
Populism has a negative bet365 Play online games
bet365 Play online games opinion of Adam Posen, director of the Peterson Institute for International Economics,Powell and FOMC forecasts underestimate the impact of near-term inflation。Posen said,Labor shortage and labor market mismatch,Has a significant impact on the U.S. economy。These impacts are unlikely to be resolved bet365 Play online games short term,The economic transformation the United States is experiencing will take longer,It will take at least 1-2 years for the average inflation rate to return to the long-term level of 2%。
Posen thinks,Economic nationalism of successive U.S. federal governments、Populist forces’ demands for trade protection and “bringing production back home”,All have brought continued pressure to the U.S. economy。bet365 Play online games kind of political pressure has also had a negative impact on the U.S. economy,Making the economy less and less elastic,The increasing cost and uncertainty of obtaining resources。Geopolitics will undoubtedly increase costs for American producers and consumers,The United States is nostalgic for its old industries and jobs,Continue to increase trade barriers,Not only will it not produce economic benefits,On the contrary, it will intensify economic pressure。
The bet365 Play online games situation is tense
Jason Furman, non-resident senior fellow at the Peterson Institute for International Economics said,The U.S. labor market still showed a recovery trend in August,But the recovery speed has slowed down compared with previous months,Labor market uncertainty continues to increase。Related survey data display,The United States added 23 in August.50,000 jobs,Well below the average growth rate of more than 1 million jobs in June and July,Also far lower than 48 per month bet365 Play online games first 5 months of 2021.Average growth rate of 70,000 jobs。Fellman thinks,The decline in U.S. employment growth is not caused by the reduction of jobs。As of the end of August,U.S. job vacancy rate reaches 2021 high,The number of job vacancies is much higher than the number of unemployed people,This indicates a tight supply bet365 Play online games U.S. labor market,Leading to an overall employment gap bet365 Play online games United States。In addition,Nominal average hourly earnings bet365 Play online games United States increased by 0 in August.6%,Twice the average increase bet365 Play online games first seven months of 2021,Vacancies and resignations increased,This reflects the tight supply situation bet365 Play online games U.S. labor market。
The new coronavirus epidemic bet365 Play online games United States will continue to exist and reoccur bet365 Play online games short term,Many American families and businesses plan with this in mind,This is for personal retail、Hotel、Travel、Industries such as commercial real estate and transportation have had a direct impact。Posen said,Those who believe that the above-mentioned industries will fully recover rather than restructure are being shelved。Although structural adjustments can curb inflation to a certain extent,But this process also increases the risk of mismatch bet365 Play online games labor market。And,Such a large-scale reallocation of labor and capital may take years,The government’s intermittent assistance will also bring uncertainty。
Posen thinks,The impact of the current supply chain shock and bet365 Play online games on the economy will last for a long time,Even if companies actively reserve raw materials and conduct geographically dispersed layout of redundant production capacity,It also takes a long time to produce effects。Posen Appeal,The U.S. government should protect basic social welfare,American households must proactively save to cope with frequent disasters and long-term changes。The federal government should encourage construction、Promoting technological changes in public utilities, transportation and other fields。The Federal Reserve should not tighten monetary policy prematurely,Even if the bet365 Play online games rate in 2022 exceeds the target and expectations,Monetary policy should also remain loose,Provide convenient conditions for long-term economic transformation。
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