An economist looks back at the train wreck

What are the takeaways from 2022?

What lessons should we learn from 2022 for 2023 and beyond?

Last January, few predicted an economic train wreck. Some of us knew that a trainload of stimulus-induced consumer purchasing power was rolling with a full head of inflation-fueling steam. But the second train (Russia’s war on Ukraine , which destroyed lives, homes, and cities and dramatically r…