Photo by Julita / Pixabay.
Where are we? It’s a question that companies around the country are asking these days, and certainly one we hear from our customers and clients.
Going back to early 2020, the U.S. economy was beginning to show cracks. Labor was tight. The yield curve, which had inverted the previous summer, was beginning to invert. The nation was feeling the effects of the China trade war. And the inevitability of a recession, ending the long U.S. expansion, was in hot debate.
The Covid-19 pandemic then intervened to deliver, from an economic perspective, a severe supply-and-demand shock. After this initial shock came more disruption in the form of Delta and Omicron Covid variants, and the Russian invasion of Ukraine. Results of these rolling disruptions have included broken supply chains, product shortages, the largest number of unfilled jobs on record and the highest inflation in 40…
