, Columnist
You Won’t Like What Comes After Inflation
The post-inflation new normal could look a lot like the low-growth hole the US was in for years.
A return to secular stagnation beckons.
Photographer: Universal History Archive/Universal Images Group via Getty Images
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After we curb inflation, then what?
We have lost sight of this question over the last year or so, caught up in the drama of a price spiral unprecedented in most of our lifetimes. But whether the Fed has crashed the economy into a recession or still manages to engineer the soft landing, we are likely to emerge from this episode into a difficult economic landscape that presents problems with no straightforward solutions.