Follow the trend: US demand is back, supply is lagging, but both are likely to grow in coming months - Jason Furman and Willie Powell

June 2, 2021, Opinion: "By April 2021 robust consumer spending and strong investment by businesses and homebuilders in the United States had driven total demand nearly back to its pre-pandemic trend. At the same time, employment was about 7 percent below its trend (or 10 million workers short). Even though hours and productivity of employed workers were up, that was still not enough to enable the United States to produce as much as the economy was demanding, with the difference made up by increases in net imports and reductions in inventories."  Read Via PIIE

HKS Authors - Jason Furman and Willie Powell