Dallas Fed analysis explains puzzle of strong US economy

Authors say US has enjoyed favourable supply-side conditions that others missed out on

Federal Reserve

Analysis by economists at the Federal Reserve Bank of Dallas seeks to explain why the US economy has been so strong, despite sharply tighter monetary policy and slowdowns elsewhere.

Enrique Martínez García and Braden Strackman look for evidence in the balance of supply and demand. They calculate the correlation of real GDP growth and core inflation for the US, Mexico, advanced economies excluding the US, and the world excluding the US.

They find that at the start of the pandemic, GDP growth and

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