US Treasury Chief Economist Harris says weaker demand for goods, easing supply bottlenecks and a receding pandemic is expected to cut inflationary pressures in 2022
- Expects energy prices to stabilise in 2022, but geopolitical instability could push prices higher.
- Key investment sectors are poised for strong growth despite supply chain issues, possible new COVID variants.
- Sees positive signs for housing supply in coming quarters.
- Sees multiple risks to economic outlook, including concerns about pandemic, supply chains, energy prices and shelter costs.
- Future variants of COVID may pose a 'significant risk' to the US economic outlook but US population may be nearing herd immunity.
- Potential economic growth shifted lower if losses in US labour supply are permanent.
via Treasury
31 Jan 2022 - 20:00- Economic Commentary- Source: Newswires
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