In this note, we draw on our recent research on the role of inflation expectations in the recovery from the Great Depression of the 1930s (Jalil and Rua, 2016a and 2016b) to provide insights into the actions that can successfully shift inflation expectations and stimulate economic recovery

Since the onset of the COVID-19 pandemic, sweeping production constraints, combined with surging demand in some industries, have led to shortages, severe congestion, and soaring prices. What will it take for these bottlenecks to resolve and for price pressures to ease?