The Limits to America’s Pent-Up Demand
Notwithstanding the predictable release of pent-up demand for consumer durables, face-to-face services show clear evidence of lasting scarring. Consequently, with the snapback for durables likely to be finished soon, even rapid vaccination is unlikely to shorten the tough time that lies ahead for the post-pandemic US economy.
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NEW HAVEN – As the second vaccine shot went into my arm, I could almost taste the instant gratification of deferred desires. Having done without for nearly a year, it was time to indulge.