Business
Return to the 70s: The US economy might be doomed to repeat history – Sydney Morning Herald
To reinvigorate a savaged economy, the US will be looking for fast growth. But this risks bringing back painful memories.
A Joe Biden presidential administration, which is becoming more probable as his lead in the polls grows, probably will try to avoid the mistakes that held back the economic recovery after the 2007-09 Great Recession. His fiscal agenda is getting bolder. The Federal Reserve is also pledging to keep monetary policy loose until inflation actually emerges.
But potential supply bottlenecks loom if the US breaks out of the slow-growth trap that has plagued the economy during the past decade. That sug…
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