The combination of an economic downturn and rapidly rising inflation is a new experience for most Europeans. The Covid-19 pandemic and the Russia-Ukraine war produced unprecedented disruptions, or as economists would say: a shock on both the supply and demand sides. And, as the holiday season kicked in, a forceful tightening of monetary policy signalled […]
Unemployment
The coronavirus pandemic has warped all sense of time as we have lurched from Delta to Omicron, and from closings to grand openings, only to swing back again. In the best of times, Americans have an endearing political amnesia that allows us to move past crisis with both a creative verve for future innovations, but […]