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Maine Voices: U.S. economy appears poised for post-pandemic boom

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One year ago in this space, I wrote about the impact of Federal Reserve policy on the economy amid the COVID-19 pandemic. I argued that because of the stimulus packages being pumped into the economy, we would circumvent a recession similar to the Great Depression or Great Recession. One may reasonably argue that a depression has been avoided.

A man works inside a Morton’s Steakhouse restaurant in San Francisco on March 4. During both World War II and the COVID-19 pandemic, consumer spending sharply dropped and caused pent-up demand. Jeff Chiu/Associated Press, File

One year later it seems appropriate to ask a different question: What happens now? The short answer is simple: Nobody knows. We don’t know what the future holds for COVID-19 variants, vaccine distribution, pent-up demand, etc.

Let’s look at our economic past and see if answers could be gleaned.

Interestingly enough, today’s government spending and economic climate have striking…

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