An economic recession in the US is drawing closer. Ironically, the main road to economic recession will be through higher inflation. Higher inflation will cause a growth slowdown and that slowdown will accelerate inflation, at least for a while – so which is the chicken and which is the egg?
The recession won’t come from a traditional, consumer-led slowdown, as some believe. Right now, US wage income is far too strong for the doughty US consumer to pack up.
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