{"id":102725,"date":"2021-06-03T12:32:40","date_gmt":"2021-06-03T16:32:40","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=102725"},"modified":"2021-06-03T17:34:51","modified_gmt":"2021-06-03T21:34:51","slug":"wsj-the-economic-recovery-is-here-its-unlike-anything-youve-seen","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=102725","title":{"rendered":"(WSJ) The Economic Recovery Is Here. It\u2019s Unlike Anything You\u2019ve Seen."},"content":{"rendered":"

The U.S. economic recovery <\/a>is unlike any in recent history, powered by consumers with trillions in extra savings<\/a>, businesses eager to hire and enormous policy support. Businesses and workers are poised to emerge from the downturn with far less permanent damage than occurred after recent recessions, particularly the 2007-09 downturn<\/a>.<\/p>\n

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New businesses are popping up <\/a>at the fastest pace on record. The rate at which workers quit their jobs\u2014a proxy for confidence in the labor market\u2014matches the highest going back at least to 2000. American household debt-service burdens, as a share of after-tax income, are near their lowest levels since 1980, when records began. The Dow Jones Industrial Average is up nearly 18% from its pre-pandemic peak <\/a>in February 2020. Home prices nationwide are nearly 14% higher since that time<\/a>.<\/p>\n

The speed of the rebound is also triggering turmoil. The shortages of goods, raw materials and labor that typically emerge toward the end of an expansion are cropping up much sooner. Many economists, along with the Federal Reserve, expect the jump in inflation <\/a>to be temporary, but others worry it could persist even once reopening is complete.<\/p>\n

\u201cWe\u2019ve never had anything like it\u2014a collapse and then a boom-like pickup,\u201d said Allen Sinai, chief global economist and strategist at Decision Economics, Inc. \u201cIt is without historical parallel.\u201d<\/p>\n

Read it all<\/a>.<\/p>\n

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The U.S. economic rebound is unlike any in recent history, and its sheer speed is triggering turmoil. \u201cA collapse and then a boom-like pickup.\u201d https:\/\/t.co\/mOEButrwPn<\/a><\/p>\n

— The Wall Street Journal (@WSJ) June 3, 2021<\/a><\/p><\/blockquote>\n