Thinker101
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A new report on Sunday highlighted concerns from top economists about the impacts of Democrat President Joe Bidenās massive government spending.
āAmericans should brace themselves for several years of higher inflation than theyāve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a whileā.
"Respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023. That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.ā
āAmericans should brace themselves for several years of higher inflation than theyāve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a whileā.
"Respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023. That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.ā
- Joel Naroff, chief economist at Naroff Economics LLC: āWeāre in a transitional phase right now. We are transitioning to a higher period of inflation and interest rates than weāve had over the last 20 years.ā