This is probably a minority position, but I feel very confident in saying that 2022 will be a very good year for the economy. We are looking at a situation where we have low unemployment, falling inflation and rising real wages. It is likely to be the best economy we have seen in many decades.
In recent weeks, inflation has been front and center in people’s minds as the media have given us endless stories about higher prices for gasoline, milk and other items. Many have been convinced that inflation will only get higher, outstripping wages and leaving most workers worse off. This is not going to be the case.