Market Extra: Consumers’ dashed hopes for an end to the pandemic are at risk of spilling over into higher inflation expectations for the next 12 months

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The longer the economy and society remain “distorted or abnormal” relative to the pre-Covid era, “the longer and higher the inflation environment can persist,” says economist Thomas Simons of Jefferies LLC.

The longer the economy and society remain “distorted or abnormal” relative to the pre-Covid era, “the longer and higher the inflation environment can persist,” says economist Thomas Simons of Jefferies LLC.