No more ‘immaculate disinflation’?
This appeared in the Times of India on 13 August 2024 (link). Over the past two years, consensus on the US economy had shifted from anticipating a ‘hard landing’ (that is, a recession) to a ‘soft landing’: That inflation would be contained without much of a growth sacrifice. Some observers hailed this as ‘immaculate disinflation’. … Read more