Is ‘American Utopia’ A Macro Illusion?

"Immaculate disinflation" has a nice ring to it. Angelic, even. But how about "American utopia"? If you're a secularist, that sounds even more appealing. Last week's US jobs report (and the cooler-than-expected ECI print for Q4) suggested the US is currently experiencing something that's "even better than Goldilocks," Jefferies' chief economist Aneta Markowska said. She described a "utopian scenario," for the world's largest economy where, if the current conjuncture were to persist, consumers

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