Globally, the economic outlook has improved, thanks to the ramp-up in vaccinations.
Markets fear at least a small chance that the economy could overheat, given that Washington’s fiscal transfers have left the average American household with more disposable income than before.
Measures of inflation have shot up in the U.S. and are on the rise in the eurozone, too, hitting a three-year high of 2% in May, data showed Tuesday.
Surveys of manufacturing purchasing managers, which recorded their highest reading ever, pointed to supply-chain shortages.
This concern about too much economic growth, however, is a first-world problem—and, even there, a lopsided one.
Organization for Economic Cooperation, Development
U.S, Canada, Japan, Germany, France