Abstract
The key to understanding the series of supply shocks that have hit inflation is the nature of the COVID-19 recession.
Footnotes
The author would like to thank Rania Papageorgiou, Giuseppe Vera and the macro group at the Peterson Institute for International Economics for comments and suggestions. The views or opinions expressed in this contribution are solely those of the author and do not reflect the views, policies or positions of the author’s employer, Citadel.
Ángel Ubide, Citadel LLC, Chicago, IL, USA.
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