Holy shit, actual analysis from a thinktank! And here I was so used to thinly veiled lobbying, propaganda pieces, and bribery that I had begun to think the American research institute was dead.
On the actual substance: if this is true, it should be good politically, but I suspect that recovery from the lingering economic trauma arising from inflation (real or imagined) will lag even further. People feel like prices are still rising too fast, whether they actually are or not, and the aforementioned propaganda engine doesn’t help.