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Despite all the noise, the US economic outlook is not that bad.

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Many measures of economic activity are increasing, even though they are slower than last year.

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The wholesale price of oil and food has been dropping, but the same is true for the retail level.


In August, gasoline   prices were below US$4 per gallon.

It appears that the recovery from the pandemic is not complete yet.

However, inflation is still a concern.Lower energy prices   drive down headline inflation.

This would mean   that the real rate is now at 3%, which is a very low amount of money in   today's economy.