Brat Summer Healed the Economy
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Photo: Andrew Harnik/Getty Images This was the summer that just about everything in the economy turned out to be all right, but it almost didn’t happen. Memorial Day weekend was a time of gloom, at least for economists. Rising unemployment and zombie inflation brought up the serious possibility that the economy could relive the stagflation nightmares of the of the Jimmy Carter era. Larry Summers had predicted that the Federal Reserve would have to hike interest rates even more, and the bond
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