“I always say it is a mistake to bet against the American people, and just today we learned the economy grew 4.9 percent in the third quarter,”in an official statement from the White House. “I never believed we would need a recession to bring inflation down – and today we saw again that the American economy continues to grow even as inflation has come down.”
who saw inflation as almost entirely due to supply constraints and therefore likely to subside on its own as the economy re-acclimated to the post-pandemic era. Closely related were the, who saw the economy largely able to bring down inflation without too much restriction from the Fed and therefore without any significant negative economic consequences.
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