The pandemic created an economic crisis unlike any recession on record.
So perhaps it shouldn’t be surprising that the aftermath, too, has played out in a way that almost no economists expected.
Instead, the recovery in the labor market has been, by many measures, the strongest on record.
Others were skeptical: Similar predictions in recent years — in some cases from the same forecasters — had failed to come true.
Instead, the central bank has raised rates to their highest level in decades, and the job market is holding steady, or perhaps even gaining steam.
Persons:
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Organizations:
Federal Reserve