Not only did Joe Biden say “the pandemic is over” a week ago, but Jerome Powell, the Federal Reserve chair whose hawkishness is roiling markets, said shortly afterward that the economy is now moving towards a “new normal.”
If you grant that the pandemic is ending and that a new normal is here, what does that look like? The early signs are: not very good.
The pandemic forced many Americans into constrained ways of working and socializing. Interactions generally became more limited,…
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