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Our Review Covers Disinflation and Real Wages

In this quarter's lead article, "The Last Mile," Isabel Schnabel describes the disinflation process during the last stages, which is likely to be more uncertain, slower, and bumpier. 

Victoria Gregory investigates patterns in real wage growth to determine whether wages have kept up with rising price levels and how this differs among labor market participants.

Other articles in the Review cover the impact of large swings in economic policy on the risk-return trade-off faced by investors and how fiscal policy shocks can affect price markups and exchange rates.