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  1. Macroeconomics in Russia

    ... During the pandemic, consumers in developed economies accumulated USD 2 trillion in their current and savings accounts (mostly high net-worth individuals). Against the threat of inflation, people may start spending these savings. "–" The US Federal Reserve (Fed) will tighten its monetary policy amid high inflation. The cumulative 10-year gap of the US inflation rate to the Fed’s target has narrowed by 3%, and is now less than 1.5%. The US economy surpassed pre-COVID levels in the second ...