The article implies it's a mystery, but to me the cause is pretty obvious:
Some businesses and consumers had spending patterns that were only viable due to ZIRP, COVID stimulus, and QE. The resulting inflation spike followed by QT and interest rate hikes to fight it led to the current slowdown.
It's almost as if doubling the number of dollars in existence between 2020-2022 had some negative long-term consequences...
Some businesses and consumers had spending patterns that were only viable due to ZIRP, COVID stimulus, and QE. The resulting inflation spike followed by QT and interest rate hikes to fight it led to the current slowdown.
It's almost as if doubling the number of dollars in existence between 2020-2022 had some negative long-term consequences...
[1] https://www.federalreserve.gov/monetarypolicy/bst_recenttren...